Looks like BNB coin has been in a downward trend for quiet a while now. It seems to have found final support on it's 50 EMA and the 0.5 fib level despite many other coins including BTC having broken their own 50s 100s and even 200 EMAs! So BNB is actually not look that bad.
It seems the MACD is just going to flatten out over the next few days and the RSI seems to be in a neutral position!
It seems that it has finally broken the downward trend and will probably trade sideways on this level for a while. It might start to show signs of pumping during a market recovery. This coin is mostly always in demand for fee reduction and the voting system on Binance. But note that because of recent server issues Binance has been down for a while, and to restore faith among customers they are reducing all fees on all trades by 70% until the 24th of this month. Will this reduce demand? Probably, by a lot? Probably not, those who are smart will try to pick up BNB while it's cheap.
Let me know what you guys think!
This is not financial advice I am not a financial advisor.
Good trading, cheers.
X
It seems the MACD is just going to flatten out over the next few days and the RSI seems to be in a neutral position!
It seems that it has finally broken the downward trend and will probably trade sideways on this level for a while. It might start to show signs of pumping during a market recovery. This coin is mostly always in demand for fee reduction and the voting system on Binance. But note that because of recent server issues Binance has been down for a while, and to restore faith among customers they are reducing all fees on all trades by 70% until the 24th of this month. Will this reduce demand? Probably, by a lot? Probably not, those who are smart will try to pick up BNB while it's cheap.
Let me know what you guys think!
This is not financial advice I am not a financial advisor.
Good trading, cheers.
X
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Seems I was right! BNB is trading between 0,6 and 0,5 FIB levels. Right above the is some support that is now resistance which was laid out on the previous run up. Once BNB breaks the resistance and the 0,6 fib level it is going to explode!
I think now might be an ok time to accumulate BNB but in staggered buys, we never know if it's going up or down remember. Plus it will follow BTC!
This is not financial advice I am not a financial advisor.
I think now might be an ok time to accumulate BNB but in staggered buys, we never know if it's going up or down remember. Plus it will follow BTC!
This is not financial advice I am not a financial advisor.
Let's just watch.