$BNB I have been saying that a person can hold 500BNB. Many people will reply below and say that they also need 500BNB. I still don’t have BNB. According to the current price, it is 307u. 500 would cost 153500u, which is 1.1 million. , it is indeed a bit much, but few people buy 500 at once. Except for BNB prices before 2021 when the price is very low or for large investors, ordinary people collect it slowly. Now ordinary people may be able to earn it with a monthly salary. I can buy three BNB, but if I can buy three, it’s still three. There are currently 300,000 BTC each. If you have the confidence and determination to hold the currency, ordinary people can collect one slowly and slowly. It depends on whether you can take action and whether you can persist. Today is 2024-01-29, and the price reached 307 on 2021-02-15, which means that the price of BNB has not increased in three years. But if you really bought it at the price of 307 on 2021-02-15 and got it now, your cost of holding BNB is now only 150. If you buy BNB after mining the new currency, the BNB you hold will be The cost will be lower. The value of BNB is not reflected in the price like other coins. BNB's economic model is already ahead of most currencies, with practical applications of deflation, fee reductions, and dividends from continuous mining of new coins. BNB is now the fourth largest market capitalization. It is impossible to double BNB ten times or a hundred times. It is difficult to double BNB. However, as mentioned above, half of the value of BNB is not reflected in the price. The longer you hold BNB, the more likely it will be. I find that BNB is becoming more and more popular. Nowadays, many people enter the currency circle and are rushing to do it ten times or a hundred times. However, only after being taught a lesson, they will find that doubling is not much. BNB also has shortcomings, that is, the SEC is now suing Binance for violating securities laws by issuing BNB. If the SEC lawsuit succeeds, BNB may be delisted. Why doesn't Binance spend more money to resolve the SEC?
While our wave count is not confirmed yet (wave 4's length already exceeds 100% of wave 1 - there might be overlapping waves 1+2), #BNB continues to hold above the $300 level and accumulate volumes.
👨🏫 Look at the chart - the upward crossover of the daily MA50, MA100, MA200 is an extremely bullish signal from a technical analysis perspective. A similar crossover preceded a 4000% increase in #BNB price in 2020-2021.
Although expecting a 4000% rise from current levels might be unrealistic given #BNB already substantial market cap, this is another indicator of strong buyer dominance.
Note that #BNB has already responded with a bounce from the daily MA50.
💡 To obtain final confirmation of the positive scenario, similar to 2020, it's essential to await the breakout of the long-term trendline.
$BNB The recent price action of Binance Coin #BNB reveals a rejection pattern within the one-hour time frame, particularly in relation to the 200-period Moving Average (MA). A rejection at the MA 200 often signifies resistance and can be a significant technical indicator for traders and investors.
In technical analysis, moving averages act as dynamic support or resistance levels. The 200-period MA is a longer-term average, reflecting the average price over the past 200 periods. A rejection at this level suggests that the market struggled to surpass this historical average, possibly indicating a bearish sentiment or a hurdle for upward momentum.
Investors and traders may interpret this rejection as a signal to exercise caution, as it could imply that the market lacks the necessary strength to sustain a bullish trend in the short term. It's important to consider other factors such as volume, trendlines, and broader market conditions to gain a comprehensive understanding of the coin's potential future movements.
As with any technical #Analysts , it's recommended to stay informed about real-time market developments and to use multiple indicators for a well-rounded perspective before making any #investment decisions.
BNB trading sideways between the $320 and $290 ranges and is currently moving towards the downside. Break the support and I fear we see a big drop to around $260📉
However, RSI looking as low as an ant’s castle so let’s hope we go up from here🚀
To my fellow bulls out there, let’s hope the $290 support line stays strong!💪🐂
$BNB BNB price live updates on The Economic Times. Check out why BNB price is falling (23 Jan 2024) today. Get detailed BNB cryptocurrency price news, Does BNB crypto have a future? In the previous 24 hours, BNB has experienced a decrease of 1.2%, reflecting a modest bearish sentiment within the market. Nonetheless, the overarching sentiment for the long term remains optimistic, with projections suggesting that BNB could potentially achieve a value of $530 by the end of 2023.
$BNB Smart Chain, formerly Binance Smart Chain, is an Ethereum Virtual Machine (EVM) compatible blockchain platform capable of general purpose smart contract execution. It is a base layer, or Layer 1 (L1), which is part of the BNB Chain ecosystem of blockchains that is developed with the support of cryptocurrency exchange Binance. It is known for its fast transaction time and low transaction cost.
$BNB looks very interesting at the moment. It rises slowly on low volumes but confident. If breaks through 322 it may try to go higher to 337. Other scenario is strong decline from 322-337 zone and great short position may be opened.
Please keep an eye on Funding Fees.
The other thing to take in consideration is that there is a court case scheduled for tomorrow morning between #Binance and #SEC so $BNB may be really VOLATILE.
Wish you all a great profitable week. Trade wise and be patient.
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