Binance is the biggest cryptocurrency exchange globally based on daily trading volume.
Aside from being the largest cryptocurrency exchange globally, Binance has launched a whole ecosystem of functionalities for its users.
The Binance network includes the Binance Chain, Binance Smart Chain, Binance Academy, Trust Wallet and Research projects, which all employ the powers of blockchain technology to bring new-age finance to the world.
BNB is an integral part of the successful functioning of many of the Binance sub-projects.
Therefore its arguably the most logical coin for the long term investment.
If there will be cryptocurrencies in the future, there will be Binance and Bnb for sure.
Bnb is in a strong downtrend for 6 months.
It lost around 40% of its value from near-ATH zone.
Price tried to breakout above couple times but failed.
More downside is possible if price cant breakout above the trendline with good volume.
For the short term BNB looking bearish.
But for the longer term with at least 1-2 years horizon it is one of the best crypto investments.
Important Support Areas for Daily Chart
384
374
366
356 if price breakdown with volume and stay there fore a couple of days more sellers can join to push the price down harder.
331
319
To the upside, price should breakout from the downtrend to have bullish looking chart. If price break above it we can discuss important resistance areas.
Thanks.
Follow for more ideas and charts.
Aside from being the largest cryptocurrency exchange globally, Binance has launched a whole ecosystem of functionalities for its users.
The Binance network includes the Binance Chain, Binance Smart Chain, Binance Academy, Trust Wallet and Research projects, which all employ the powers of blockchain technology to bring new-age finance to the world.
BNB is an integral part of the successful functioning of many of the Binance sub-projects.
Therefore its arguably the most logical coin for the long term investment.
If there will be cryptocurrencies in the future, there will be Binance and Bnb for sure.
Bnb is in a strong downtrend for 6 months.
It lost around 40% of its value from near-ATH zone.
Price tried to breakout above couple times but failed.
More downside is possible if price cant breakout above the trendline with good volume.
For the short term BNB looking bearish.
But for the longer term with at least 1-2 years horizon it is one of the best crypto investments.
Important Support Areas for Daily Chart
384
374
366
356 if price breakdown with volume and stay there fore a couple of days more sellers can join to push the price down harder.
331
319
To the upside, price should breakout from the downtrend to have bullish looking chart. If price break above it we can discuss important resistance areas.
Thanks.
Follow for more ideas and charts.