Usman Salis
⬤ Binance Coin just broke out of a falling wedge pattern on the 1-hour chart, pushing through resistance near $944. The move came after BNB spent time consolidating in a tight range following a strong upward push. Price had been making lower highs while holding above gradually rising lows, creating the classic wedge setup that traders watch for reversal signals.
⬤ During the consolidation phase, BNB stayed supported by a rising moving average, which showed that even though price was pulling back, there wasn't much real selling pressure building up. The wedge kept getting tighter until buyers finally stepped in and pushed through the upper trendline around $944, breaking the pattern cleanly.
⬤ What makes this breakout worth paying attention to is that BNB didn't immediately fall back into the wedge afterward. That's usually a good sign that the move is legitimate rather than a head-fake. The price had been compressed for a while, and once that resistance gave way, it opened the door for the next directional move.
⬤ Falling wedges that form after an initial rally tend to resolve upward more often than not, especially when they happen on shorter timeframes like this. For BNB, clearing wedge resistance puts the bulls back in control on the hourly chart. The key now is whether price can hold above that former consolidation zone and build on the momentum. If it does, this could be the start of another leg higher for Binance Coin.
Usman Salis
