Binance Coin eyes $560 next after BNB price 'Cup and Handle' breakout
BNB price gets a boost as Binance launches a $1 billion blockchain fund. The ongoing price boom in the Binance Coin (BNB) market is painting a classic bullish chart pattern with an upside target of $560.Dubbed as Cup and Handle, the pattern appears when the price forms an advance that appears like a U-shaped trend (Cup). That follows up with a formation of a descending channel range (Handle). A breakout above the Handle range typically leads to an upside continuation, with a bullish target at length equal to the Cup's size.So it appears, BNB has undergone a price trajectory that looks like....
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The Shiba Inu breakout appears almost ten days after SHIB's addition to Binance Card. Shiba Inu (SHIB) broke out of its prevailing "cup-and-handle" pattern on Aug. 14, raising its prospects of securing additional gains in the coming weeks.Shiba Inu could soar 50%A cup-and-handle appears when the price falls and rises in a U-shaped trajectory in the first stage, followed by a swift move sideways or downward in the second. Notably, the price trend develops under a common resistance level.Typically, cup-and-handle patterns resolve after the price breaks above the resistance level; SHIB did....
DOT could witness an increase in demand after Polkadot's launch of an intercommunication blockchain tool. Polkadot (DOT) looks ready to extend its ongoing price recovery due to a classic bullish pattern forming on its daily chart.DOT paints "cup and handle" patternNotably, DOT has been forming a "cup and handle" pattern since mid-June, confirmed by its price crashing and recovering in a rounding, U-shaped trajectory (cup), followed by the development of a trading range on the right-hand side (handle).DOT/USD daily price chart featuring "cup and handle" breakout setup. Source:....
The success rate for cup and handle patterns in forex and stock markets, on daily timeframes, are 65% and 68%, respectively, per a Harvard study. Ethereum blockchain's native asset Ether (ETH) faces the prospect of exploding towards $6,500 in the coming sessions.ETH looks like a cup and handle too. Thoughts?— Raoul Pal (@RaoulGMI) September 15, 2021 The bullish analogy takes cues from a textbook technical pattern dubbed "Cup and Handle." In detail, a Cup and Handle structure develops after the price first rallies significantly to the upside and then corrects to carve out a rounding....
The upside outlook appears as ETH price eyes a breakout above its five-month-old resistance trendline. Ethereum's native token Ether (ETH) has rallied by more than 415% this year to over $3,800, and two major bullish patterns developing on its charts highlight the scope for another upside move, ultimately toward the $6,200–$6,500 price range.ETH price eyes $4K resistance breakoutThe first decisive break above the psychological $4,000-mark, which serves as a resistance trendline to a five-month-old ascending triangle and a cup and handle pattern, could trigger a textbook price rally in the....
Shiba Inu Price had registered substantial gain over the last week. In the last 24 hours however, the coin moved down on its chart. The meme-coin had broken past its cup and handle pattern that was being formed for the past several months. This had pointed towards signs of bullishness. Despite a fall in Shiba Inu price, the technical outlook of the coin continued to remain positive at the time of writing. If Shiba Inu manages to remain above the $0.000015 level then the meme-coin could trade near the $0.000021 price mark. This meant that Shiba Inu price could rally by almost 50% in the....