Binance (BNB/USD) consumers proceed to defend $266. The extent has turn into a vital zone, because the cryptocurrency has shaped a number of bottoms. That offers consumers an actual probability to thwart bear curiosity and transfer the cryptocurrency larger.
The steadiness of BNB comes when crypto exchange-related tokens are going south. As of press time, the FTX token trades at merely $22, practically the bottom value of $21 within the 12 months. Equally, the Cypto.com token is buying and selling close to its yearly lows. BNB trades at $272, up from its yearly lows of $184, cementing the standing as a steady exchange-linked coin.
In fact, Binance ranks as the biggest crypto change, and it’s straightforward to see why. In September, the crypto change noticed elevated buying and selling volumes regardless of cryptocurrency costs falling sharply. The rise in volumes adopted the exchanges’ transfer to take away buying and selling charges on well-liked crypto pairs.
With the steadiness of Binance, bulls have been relentless because the token hit $266. A technical outlook reveals that $300 stays a practical goal if the bear market doesn’t worsen additional.
BNB holds $266 help intact amid a bear market
Supply – TradingView
Technically, BNB stays steady at or barely above $266 help. Nevertheless, the RSI studying is beneath the midpoint suggesting that bears have the higher hand. Ought to sentiment stay, bulls may push the worth again to the $300 resistance.
On the flip aspect, an extra bear market may enable bears to push the worth decrease to $244.
On a steadiness of possibilities, a bull case is stronger for BNB based mostly on the steadiness of the worth at help. Bears are additionally energetic, giving a possible consolidation situation for BNB at or round $266. BNB consumers can take an opportunity on the present degree however monitor value motion and sentiment since a cheaper price remains to be attainable.
The place to purchase BNB
Binance is without doubt one of the largest cryptocurrency exchanges on this planet. It’s higher suited to extra skilled buyers and it affords a lot of cryptocurrencies to select from, at over 600.
Binance can also be identified for having low buying and selling charges and a a number of of buying and selling choices that its customers can profit from, reminiscent of; peer-to-peer buying and selling, margin buying and selling and spot buying and selling.
Kucoin is a cryptocurrency change which affords over 200 cryptocurrencies.
Kucoin has a variety of providers, reminiscent of; a built-in peer-to-peer change, spot and margin buying and selling, financial institution degree safety and a variety of accepted fee strategies.
Customers can profit from a beginner-friendly interface and comparatively low charges.