Can Binance Coin Hit $820 Following Strong Interest in BNB? 📈

Binance Coin (BNB) has been trading within a bullish pennant pattern on a 4-hour timeframe, pointing towards a possible price breakout. This pattern on the chart suggests a bullish market sentiment as BNB remains positioned above a significant horizontal support level at $720.

The transformation of this level from a resistance to support signifies robust buying activity, particularly as BNB prices rebounded sharply after testing this zone. The oscillation of BNB between converging trendlines has been indicative of the pennant formation.

Such technical formations often reflect traders’ optimism and expectations for potential gains, leading to speculation about BNB potentially hitting a price target of $820. The strong interest in BNB could be a driving factor behind this market movement, making this an anticipated development in the crypto market.