Binance made all listing fees transparent!
Updated
According to today’s blog post on official Binace page (medium.com/binanceexchange/binance-listing-fee-update-d512982722ce), it was stated that as of today, Binance fees are made completely transparent and 100% of them will go to charity.
So how this could affect the price of the Binance coin in the future? Well, transparency is something that gives confidence to the users, thus increasing Binance reputation. In august, Binance CEO Changpeng Zhao said: "Question is not 'how much does Binance charge to list?' but 'is my coin good enough?'"
Let’s get back to the price action after the Binance official statement about the fees. Not much action in BTB/BTC price today as coin traded around btc 0.0016 under the low volume.
In fact, since 14th of August, Binance coin has been ranging between btc 0.0015 support and 0.00170 resistance. But, what is interesting is that on the 2nd of October price broke above the 50 and 200 Moving Average simultaneously. This might indicate that further upside growth is to come shortly, and whether the btc 0.0017 resistance will be broken or not is yet to be seen.
The RSI oscillator broke above the downtrend trendline and the upper trendline of the ascending channel, which also implies BNB/BTC bullish intentions.
But on the downside, BNB is forming a Head and Shoulders pattern, although the neckline (btc 0.0015) is still holding. In order for the trend to turn bearish, daily break and close below the neckline is required. Therefore as the price remains above this support, uptrend continuation seems to be more probable.
Support:
1. 0.00150
2. 0.00110
3. 0.00090
Resistance:
1. 0.00168
2. 0.00212
3. 0.00265
So how this could affect the price of the Binance coin in the future? Well, transparency is something that gives confidence to the users, thus increasing Binance reputation. In august, Binance CEO Changpeng Zhao said: "Question is not 'how much does Binance charge to list?' but 'is my coin good enough?'"
Let’s get back to the price action after the Binance official statement about the fees. Not much action in BTB/BTC price today as coin traded around btc 0.0016 under the low volume.
In fact, since 14th of August, Binance coin has been ranging between btc 0.0015 support and 0.00170 resistance. But, what is interesting is that on the 2nd of October price broke above the 50 and 200 Moving Average simultaneously. This might indicate that further upside growth is to come shortly, and whether the btc 0.0017 resistance will be broken or not is yet to be seen.
The RSI oscillator broke above the downtrend trendline and the upper trendline of the ascending channel, which also implies BNB/BTC bullish intentions.
But on the downside, BNB is forming a Head and Shoulders pattern, although the neckline (btc 0.0015) is still holding. In order for the trend to turn bearish, daily break and close below the neckline is required. Therefore as the price remains above this support, uptrend continuation seems to be more probable.
Support:
1. 0.00150
2. 0.00110
3. 0.00090
Resistance:
1. 0.00168
2. 0.00212
3. 0.00265
Note
Binance coin range trading continuesNote
Support rejected
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