BNB Lead Bull
BNB still stands as the lead bull in the crypto market and continues making exceptional gains every single day. Currently trading at $31.4 and forming yet another bull flag on the daily chart. BNB barely had any consolidation in the weekly chart and it’s still in the overbought RSI area.
The daily chart RSI is also in the overbought area, although this has never stopped BNB from continuing its strong uptrend. The rest of the market remains a bit indecisive, BNB however, knows exactly which side is on, the bullish one. The last bull flag at $29 was confirmed after just 2 days and BNB traded as high as $32.8 before small consolidation. BNB remains well within the strong uptrend line and would have to go below $27 to break the line.
Over the short term, BNB could consolidate further down to $30 however as we know, BNB price is mostly driven by the announcements and improvements made over Binance. Technical analysis doesn’t work as well in these cases, we certainly remain bullish.
This simple tweet of 2.0 on Binance’s official twitter made BNB spike and see close to 12% gains in just 4 hours after the tweet was posted. Clearly news continue to have a huge impact on BNB.
The daily chart RSI is also in the overbought area, although this has never stopped BNB from continuing its strong uptrend. The rest of the market remains a bit indecisive, BNB however, knows exactly which side is on, the bullish one. The last bull flag at $29 was confirmed after just 2 days and BNB traded as high as $32.8 before small consolidation. BNB remains well within the strong uptrend line and would have to go below $27 to break the line.
Over the short term, BNB could consolidate further down to $30 however as we know, BNB price is mostly driven by the announcements and improvements made over Binance. Technical analysis doesn’t work as well in these cases, we certainly remain bullish.
This simple tweet of 2.0 on Binance’s official twitter made BNB spike and see close to 12% gains in just 4 hours after the tweet was posted. Clearly news continue to have a huge impact on BNB.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.