BNB hangs above key moving averages

BNBUSDT

BNB rebounded from the 50-day SMA (323) on April 30, indicating that the bulls are still guarding this level. However, the past few days have formed a symmetrical triangle pattern, indicating indecision among buyers and sellers.

If the buyers manage to push the price above the triangle, it would signal the start of a new uptrend. On the other hand, the bears will try to sink the pair below the support line of the triangle and deepen the correction to $280.

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