Binance Coin (BNB) is showing signs of a potential bullish reversal as it tests the $654 neckline, aiming for a recovery towards the $667 resistance zone.
A double bottom pattern has emerged on the BNB/USDT chart, with support near $652 and a breakout above the neckline at $654, indicating a trend reversal scenario.
Traders are targeting an upside move to $656.34 with tight stop-loss placements, expecting a retest confirmation of the breakout zone near $654.27 to push the price higher.
Short-term volatility and mixed volume dynamics in the Binance Coin market indicate cautious trading, with buyers needing a strong close above $657 and renewed volume for a more bullish bias.