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Welcome to this BNB update. As you know recently we have seen many FUD against Binance. No one knows whether these fud are true or not but we trying to understand the situation by reading the chart.
BNB is currently trading around the $245 level. It is trading inside a descending triangle in the weekly time frame. It has very strong weekly support at the $210 level. If BNB breaks and closes below the $210 level then I didn't see any good support until $40 in this weekly chart.
So is it possible that BNB goes in two digits? Don't know yet but nothing is impossible in crypto. We have to see many unlikely events this year like FTX, 3AC, LUNA, and many more. So that's why anything is possible. All we can do is stay alert and preserve our capital.
Until BNB holds above the $210 level it is safe and it's a good buying zone with a little SL of below $200
Let's see how next year will come to us. Hope for the best.
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