![]() If the pattern trend continues, then the price of BNB might reach the resistance levels of $243.6, $305.7, and $344.9. Both ascending and descending channels are primary channels followed by technical analysts.Īt the time of analysis, the price of Binance Coin (BNB) was recorded at $208.86. ![]() An ascending channel is the opposite of a descending channel. Within a descending channel, a trader could make a selling bet when the security price reaches its resistance trendline. A descending channel is drawn by connecting the lower highs and lower lows of a security’s price with parallel trendlines to show a downward trend. but only after an upside penetration of the upper trend line. The descending channel pattern is often followed by higher prices. Descending channel patterns are short-term bearish in that a stock moves lower within a descending channel, but they often form longer-term uptrends as continuation patterns. In the above chart, Binance Coin (BNB) laid out a descending channel pattern. The overview of the Binance Coin price prediction for 2023 is explained below with a daily time frame.īNB/USDT Descending Channel Pattern (Source: TradingView ) (Source: TradingView ) Binance Coin (BNB) Price Prediction 2023īinance Coin (BNB) ranks 4th on CoinMarketCap in terms of its market capitalization. The exchange token migrated onto the BSC and its functionalities expanded. Later in September 2020, Binance Smart Chain (BSC), an EVM-compatible Proof-of-Stake authority (PoSA) blockchain, went live. Binance nearly holds the largest crypto trading volume of $7.6 billion at the beginning of Q2 2023. Initially, Binance Coin ( BNB) was only used as transaction fees and trading fees on the exchange. (Source: CoinMarketCap) What is Binance Coin (BNB) TICKERīinance Coin ( BNB) was launched in 2017 as the utility token for Binance, one of the largest crypto exchanges.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |