BNB/USD - BNB to $200! Can it flip ETH? 🤨
BNB has exploded this year... literally. From $40 going to $200!
Why? Because it has started to eat into the ETH market share, including DEFI!
The largest decentralized exchange on Binance Smart Chain (BSC) called PancakeSwap is now the third largest, over SushiSwap that uses ETH network.
coinmarketcap.com/rankings/exchanges/dex/
At over $500 million in volume a day PancakeSwap is a testament of the BNB, Binance and BSC success. So long as ETH is plagued by high fees, I don't see this trend changing. See my other idea on ETH for more on that (linked below).
So can BNB flip ETH... not really, but if there is any altcoin there that can do it... it is BNB. Not DOT or others... BNB. With Binance (largest centralized exchange in the world) and PancakeSwap (to be largest decentralized exchange in the world) behind BNB... I think ETH is in trouble!
What does the price action tell us?
Indicators are as bullish as they come. MACD on 4h expanding, volume rocketed and RSI is in overbought area (also bullish!). On daily timeframe, same story.
Can we go higher, oh yes, especially since BTC broke 50k resistance!
The next target/resistance is at $200. So watch that level... if we pump above it... well... damn. This is going fast.
Enjoy your profits!
Like and follow if you liked this idea! Also join my crypto community to stay in touch!
Why? Because it has started to eat into the ETH market share, including DEFI!
The largest decentralized exchange on Binance Smart Chain (BSC) called PancakeSwap is now the third largest, over SushiSwap that uses ETH network.
coinmarketcap.com/rankings/exchanges/dex/
At over $500 million in volume a day PancakeSwap is a testament of the BNB, Binance and BSC success. So long as ETH is plagued by high fees, I don't see this trend changing. See my other idea on ETH for more on that (linked below).
So can BNB flip ETH... not really, but if there is any altcoin there that can do it... it is BNB. Not DOT or others... BNB. With Binance (largest centralized exchange in the world) and PancakeSwap (to be largest decentralized exchange in the world) behind BNB... I think ETH is in trouble!
What does the price action tell us?
Indicators are as bullish as they come. MACD on 4h expanding, volume rocketed and RSI is in overbought area (also bullish!). On daily timeframe, same story.
Can we go higher, oh yes, especially since BTC broke 50k resistance!
The next target/resistance is at $200. So watch that level... if we pump above it... well... damn. This is going fast.
Enjoy your profits!
Like and follow if you liked this idea! Also join my crypto community to stay in touch!
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