$BNB COULD RISE STRONGLY!
By not falling too much following the Binance hack, BNB has actually demonstrated just how strong it is and how much its community values it.
Even a hack of this magnitude caused only minimal damage to the exchange’s own token. There’s only a small difference of about $35 from its pre-hack level, and with a breakout from the descending channel I’ve shown, these levels could be surpassed very quickly.
The key point here is that the price could bounce off the red line and continue lower, but I see a higher probability of a breakout. During a period when support is so crucial, investors won’t abandon BNB.
If it breaks out and rebounds to $800, we’ll be talking about the $700 levels again. Let’s watch this space! DYOR
By not falling too much following the Binance hack, BNB has actually demonstrated just how strong it is and how much its community values it.
Even a hack of this magnitude caused only minimal damage to the exchange’s own token. There’s only a small difference of about $35 from its pre-hack level, and with a breakout from the descending channel I’ve shown, these levels could be surpassed very quickly.
The key point here is that the price could bounce off the red line and continue lower, but I see a higher probability of a breakout. During a period when support is so crucial, investors won’t abandon BNB.
If it breaks out and rebounds to $800, we’ll be talking about the $700 levels again. Let’s watch this space! DYOR