Binance Coin (BNB/USD) is bracing for a massive bullish move in the sessions ahead, a trend that could see the exchange token rise above $450.
The analogy comes from an independent analyst on Twitter, operating under the pseudonym of Crypto Kaleo to distribute day-to-day cryptocurrency updates across its 142,000 followers. Kaleo predicts a wild upside rally in the BNB/BTC instrument as he compares the pair’s current price movements with those last month — that led a parallel instrument, the BNB/USD, to its current record high of $422.
The Breakout Mood
In February 2021, BNB/BTC reached a new high in a breakout move that followed a consolidating move below a descending trendline and pattern top (0.0032 satoshis). After hitting 0.0067 satoshis as its breakout target, the pair started consolidating again under a new descending trendline pattern. Only this time, bulls waited for days before pursuing an upside breakout.
Later, the BNB/BTC pair consolidated near the level coinciding with its descending