Last Time This Unique Trade Signal Happened BNB Gained 100%

Binance Coin's (BNB) technical picture reveals a unique trade signal that has the potential to boost BNB's price by 100%. The RSI trendline breakout is a leading signal that shows a potential trend reversal.

RSI Trendline Breakout

One of the basic tenants of technical analysis is that momentum precedes price. If we compare the changes in price relative to the changes in the RSI momentum peaks, we can better understand when a trend is about to reverse.

If we connect the most recent peaks in the RSI oscillator with a trendline, we can observe that a breakout to the upside has occurred. This is a signal that the bearish momentum is fading away and that the bulls now have the upper hand.

On the last two occasions, the RSI trendline breakout signal has generated over 102% and 97.99% gain, respectively. In other words, the RSI trendline breakout is a powerful signal to pinpoint a trend reversal.

Looking forward: The considerable psychological number $500 can pose a challenge for the bulls that they need to overcome. Further to the upside, the most significant resistance level is the all-time high of $691.