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This setup last appeared in 2020, preceding a major bull run in altcoins. Following the Golden Cross in 2020, TOTAL2 surged exponentially, indicating strong investor confidence in the altcoin sector.
The convergence of historical technical patterns and regulatory de-escalation suggests that the crypto market is entering a bullish phase. If Binance resolves its legal challenges, BNB could see increased institutional confidence, aligning with its 2021 breakout structure.
Moreover, if the SEC’s approach toward crypto regulation softens, altcoins could see an extended rally, mirroring the post-Golden Cross surge in 2020.
BNB Technical Analysis — $1,000 Price Target Set If…
BNB has failed twice to break out of its ascending triangle pattern since it began forming in March 2024. The latest rejection near the pattern’s upper trendline has resulted in a red weekly candle, increasing the likelihood of a short-term correction.
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