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Binance Coin is ready to go again

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Binance Coin $ BNB it’s a token of which we talk, at least in our opinion, too little. In spite of one of the most important market capitalization and an intrinsic strength that, again in our opinion, is still far from expressing its full potential.

A token that is quintessential to the functioning of the Binance – although hardly affected by his own moments of crisis – and also the functioning of the Binance Smart Chain.

The analysis of Cryptocurrency.it on the moment of Binance Coin

It remains necessary – in a moment of market accumulation – understand how it could move $ BNB, which despite the arrival in the same sector of several competitors, does not seem to want to give up. In a vision – ours – with positive outlook about the future of short, medium And long period, as ours also confirm target price.

How to exploit this analysis – Possible signs:

Signals and target price on Binance Coin – to orient yourself on today’s market

Understanding $ BNB as an investment asset

It is a question basic for those who want to invest in Binance Coin. Because if it is true that everyone more or less knows how the cryptocurrencies, few are able to grasp all the nuances of BNB, as it is directly connected to the operation of Binance and its many services.

Which means its main utility is to allow the operation of various services connected to the exchange. Not only the exchange on the platform, for which we still get a discount if we decide to pay the commissions in BNB. In fact, the reward services of the Liquid Swap, the system that Binance makes available to those who want to get rewards in exchange for offering their coins and tokens to the exchange itself.

  • Binance Force Meter

Although this is a factor that has been denied several times. Even in the face of several investigations authority control of the markets towards Binance, in reality the token was not particularly affected, a sign that on the one hand there is great confidence in BNB, on the other hand, instead of the relative disconnect between its market capitalization and the outlook on Binance.

  • Excellent burn program

Binance Coin is the subject of periodic burn, which destroy a significant amount of token. The last one was worth approx 390 million dollars, significantly compressing the money supply In circulation. Just as the promise of the staff of Binance not to sell i BNB which are in the possession of the staff.

Technical analysis on the next days: this is how BNB could move

Thetechnical analysis to 1 week, with which we will try to read the upcoming trend. However there is a series of to do important distinctions, given that we are in a rather particular market phase.

  1. The market is in decline

And it is a generalized movement, which has also affected Bitcoin and Ethereum. And which we should take into account, also because it could overwrite the reading that will come from technical analysis.

  1. Moment of low volumes

And markets with rather sparse orders. It doesn’t take much to invest the trend – and if we were to follow the old Wall Street adage – never short a dull market – or never sell short when the market is sluggish.

Let’s now move on to moving averages, which are the first category of tools to use to understand how the asset we are interested in could move. What we report is weekly – and therefore with a broad enough horizon to enter the market with comfort.

MOBILE MEDIA 5 10 50 100 200
SIMPLE SELL 🔴 BUY 🟢 BUY 🟢 BUY 🟢 BUY 🟢
EXPONENTIAL BUY 🟢 BUY 🟢 BUY 🟢 BUY 🟢 BUY 🟢
7-day moving averages on $ BNB

Moving averages that I am all or almost bullish and which therefore indicate a possible trend reversal compared to what happened during the weekend – and also at the opening of the new week.

INDICATOR SIGNAL
CSR BUY 🟢
CCI BUY 🟢
ADX BUY 🟢
STOCH 9.6 NEUTRAL
MACD BUY 🟢
ULTIMATE NEUTRAL
ROC BUY 🟢
Indicators on 7-day $ BNB

Even the technical indicators they seem to foresee a future trend that is very different from the current market situation. A very interesting picture for those who could at this point take advantage of the relatively low prices for BNB.

  • The fundamental resistances and supports

The match, in the next few hours, will be played on the support of $ 380, past which we could speak openly of strong bearish trend and share $ 410, after which we could be relatively certain of the return of the Nice weather on the market of BNB. What is certain is that to get out of the impasse of the last few days it will also take a flash of Bitcoin.

Yes, BNB can easily return towards $ 700

That is towards that price level which would mean, once again, all-time high. Binance Coin – and this is statistics – it tends to multiply the effects of one bull run – and if the market is indeed oriented in that direction, a price close to $ 400 it could be a delightful entry point. Our BNB forecasts they are extremely optimistic – and are based on fundamental and technical analysis at the best of all possibilities. The temporary fix shouldn’t be a cause for any concern.

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