BNB is forming a triangle in 4hr chart and got rejected many time near the 300$ range and reached 250-260$ many times
now the major question is when will bnb breakout this bearish triangle and move to its ATH(351$) of support.
BNB supported by binance though have all the major facilities like staking,own smart chain,low fees and even many big whales support bnb
but the volume traded remains nearly constant everyday. yes,there are many large buying activities in bnb but when ever it starts to make a move to the upside BTC gives bnb a push downside
this is the major drawback, every alts follow btc in someway but bnb is highly volatile when BTC is red.
I think even if we break the triangle on the 4hr chart the momentum to the upside may get rejected and bnb may still remain in the 270$ range. but there is high possibility for bnb to move upwards as there are some news saying some smartchain contract is being built on bnb that was already been present in ethereum and trx named FORSAGE they also have huge followers nearly a million followers in ethereum and 400k in trx don't know how they work but i checked the website and it was true i will make an update when there is upside momentum to the ath
this is not an finanial advice and comment your ideas down.
now the major question is when will bnb breakout this bearish triangle and move to its ATH(351$) of support.
BNB supported by binance though have all the major facilities like staking,own smart chain,low fees and even many big whales support bnb
but the volume traded remains nearly constant everyday. yes,there are many large buying activities in bnb but when ever it starts to make a move to the upside BTC gives bnb a push downside
this is the major drawback, every alts follow btc in someway but bnb is highly volatile when BTC is red.
I think even if we break the triangle on the 4hr chart the momentum to the upside may get rejected and bnb may still remain in the 270$ range. but there is high possibility for bnb to move upwards as there are some news saying some smartchain contract is being built on bnb that was already been present in ethereum and trx named FORSAGE they also have huge followers nearly a million followers in ethereum and 400k in trx don't know how they work but i checked the website and it was true i will make an update when there is upside momentum to the ath
this is not an finanial advice and comment your ideas down.