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....
Crypto analyst TradingShot has predicted that the Dogecoin price could soon record a bullish breakout. The analyst also revealed that the foremost meme coin could make a new all-time high (ATH) as it targets a rally past the current ATH of $0.73. Dogecoin Price Eyes Bullish Breakout To New ATH In a TradingView post, TradingShot […]
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....