Can Binance Coin (BNB) Go Any Higher?
Exchange-issued coins like the Huobi token, Bitfinex's LEO and Binance coin have recently captured the interest of larger markets and doubling their price without regard to Bitcoin. Undeniably, our BNB/USDT trade from April 11th has turned out to be one of the best trades we had so far this year, earning us a solid gain of 130%!
Below is a chart I posted on May 8, 2019:
... and the same chart updated on June 24, 2019:
Moving on to today's BNB forecast, the long-term market shows no boundaries for this asset as long as new IEOs continue to spawn. In terms of technical, there is still plenty of room for upside so the big question is -- when would be the best time to re-invest in BNB? I believe the consolidation phase for BNB is only halfway done. That said, I would not be surprised to see price retest the key resistance at $36 - $38 right before making a steeper correction.
On the upside, a breakout from key resistance would see the bulls ram against a hard sell wall at $42 - $43, where we would anticipate a pullback. If the market takes on this scenario, we would wait patiently for our buy opportunity from the pullback rather than blindly rush in. FOMO seldom ends well, remember that.
Below is a chart I posted on May 8, 2019:
... and the same chart updated on June 24, 2019:
Moving on to today's BNB forecast, the long-term market shows no boundaries for this asset as long as new IEOs continue to spawn. In terms of technical, there is still plenty of room for upside so the big question is -- when would be the best time to re-invest in BNB? I believe the consolidation phase for BNB is only halfway done. That said, I would not be surprised to see price retest the key resistance at $36 - $38 right before making a steeper correction.
On the upside, a breakout from key resistance would see the bulls ram against a hard sell wall at $42 - $43, where we would anticipate a pullback. If the market takes on this scenario, we would wait patiently for our buy opportunity from the pullback rather than blindly rush in. FOMO seldom ends well, remember that.
