BNB Technical Analysis: Trend Soon to Escape the Inverted Flag Pattern

The BNB coin price bottles up the inverted flag pattern and hints at a breakout shortly that will determine the upcoming boom. Binance is an exclusive network of blockchain-based decentralized networks and exchange. The business has grown to become the top cryptocurrency exchange in a wide range of countries. Their associated organizations are attracting a lot of interest too. Let us move ahead to read about Binance technical analysis. Past Performance of BNB The BNB coin price action forms an inverted flag pattern in the daily chart with the recent short-term retracement. The coin price jumps 5.81% in the past 24 hours, with multiple previous lower price rejection candles in the daily chart. Moreover, the price struggles to overcome sellers at the $400 psychological level. BNB/USD Daily Chart BNB Technical Analysis The BNB coin price action bottles up within the inverted flag pattern in the daily chart teasing a breakout shortly. The freshly made bearish candle at press time indicates a possible bearish candle. The crucial Exponential Moving Averages show the increased possibility of a death cross as the 50-day EMA continues to fall after crossing the 100-day EMA and $450. Moreover, the price trades below all the crucial EMAs indicating a solid underlying bearishness. The RSI Indicator shows the slope rising higher in the nearly oversold zone, however, the slope struggles to cross the 14-day SMA and the central line. Therefor...