BNB to the Moon

1 yr
LeoFinance
3 Min Read
687 words

BNB GRAFICO DE 4 HORAS.png

I am an investor in cryptocurrencies, which has led me to buy some coins or tokens that are of interest to me, either because they are among the Top coins in market capitalization, have a good volume of daily transactions, which leads me to deduce that they handle quite a lot of money, or simply because I like the project, what they are doing and how they are running it. Such is the case of "Binance Coin or BNB", which is among my favorite projects and in which I have invested for the reasons mentioned above.

Many months ago I acquired some BNB coins and basically by pure logic I asked myself the following question: if Binance is succeeding, they are implementing many new things that adapt to all the changes that are happening in cryptocurrencies and in the Blockchain world in general, definitely their native coin is very cheap? Based on this buy my coins and as far as I can see, this is the beginning of what may be their true value price. For this reason I will graphically analyze what BNB is and talk a little bit about what Binance is and what in my opinion it is doing very well for the whole community that follows them and uses their services.


image.png

BNB Chart Analysis

I am not an expert analyzing currency charts, however, during the time I have been in this Cryptocurrencies I have been learning a little about Trading and technical analysis, so in this opportunity and based on my basic knowledge, I will analyze 2 timeframes that are:

  • 1 day chart
  • 4 hour chart

1 Day Chart

BNB GRAFICO DE 1 DIA.png

To begin with I have plotted my most relevant supports and resistances according to what the price has done in the past, which leaves me as the "most important supports" the area between $315.69 and $351.52, then if this area fails which, in my opinion, most likely will not happen, is the area between $188.79 and $220.14. At this moment the price is above my trend line, tracing the 2 lowest points of the price which are highlighted with two orange circles and then we can see an acceleration in the trend, which leads me to draw a new trend line joining these points and confirming the strength that have at this time the buyers over sellers.

4-Hour Chart

BNB GRAFICO DE 4 HORAS.png

In 4 Hours the situation changes a little, however, it is still the same context, but in this temporality, I can highlight a new acceleration that has the price, which led me to draw another new trend line, which again confirms me the great strength of buyers, on the other hand, in this temporality we can see how the price leaves us more detailed information of the waves that the price is leaving and how these are respecting very well both trend lines. You can see this detail in the orange circles that I placed in each rejection in these lines. Finally, to finish my analysis, the price has great strength, but if it makes a pullback, it could do it in the last acceleration line to continue its course towards the $600 and the MOON.


image.png

Conclusions

Binance has one of the most solid projects in the market, it is connecting as many people as it can with the Blockchain and cryptocurrencies world, this is not just me saying it, there is evidence of it and this makes me think that this is just the beginning, cryptocurrencies continue to grow, many more people, companies, big magnates are interested in them, it is natural to think that this is just beginning and what leads me to keep my investment in BNB for a longer time.


Until next time and happy investing.


image.png

Join the official community here Discord


Join the official Spanish community here Discord

Posted Using LeoFinance Beta


For now we are in a bull market that in itself should have a correction at some point, something that would not be bad at all, but on the contrary it would be healthy for bnb

Posted Using LeoFinance Beta

1

I agree with you, in a climb with so much force and with a powerful angle and acceleration, the healthiest thing to do is a correction. Greetings.

Posted Using LeoFinance Beta

0

I am shocked at the BNB performance !

Do you know why it pumped again last night ?

Cheers 🍻

Posted Using LeoFinance Beta

3

BNB seems to have pumped a lot lately over the past few weeks as more and more people use it alongside the new service being made (e.g. BNB blockchains, support for new projects, NFTs). Also, BNB is approaching its maximum supply quite soon (you can check here), meaning that BNB will only continue to push up.

That is my guess for what happened to BNB, hope it helps!

Posted Using LeoFinance Beta

2

Thanks for this very insightful comment ! I did not know about the Max supply being so close !

Crypto seems to have forgotten the decentralized nature though.

Is there anything planned to make BSC and BNB more decentralized ?

Posted Using LeoFinance Beta

1

I have not heard anything about BSC or BNB being more decentralised, and it does not look like there is not going to be any change any time soon. However, talking about decentralised, there are lots of decentralised services (e.g. PancakeSwap, Harvest Finance and Auto Farm) which are becoming more popular, more being created over time. Although BSC or BNB will not be decentralised, many of its services are and will be, so it won't be as decentralised as ETH or other cryptocurrencies, but better than it is now.

Posted Using LeoFinance Beta

2

Thank you for this message. You are indeed making some very important points that I haven’t thought through.

Services and dapps might be decentralized but nevertheless CZ and Binance will have the control if they wanted to « cancel » some BNB transactions or assets.

This is a tough challenger to ETH for sure 😉

Posted Using LeoFinance Beta

1

I don't see too much focus on making BSC decentralized. They killer feature is being very much like Ethereum but with cheaper fees and better scaling. If HIVE or any other DPOS get their act together to make feeless DeFi more of a thing, it won't be too hard to eclipse BSC.

Posted Using LeoFinance Beta

0

Well some have done it but did not seem to have such traction (EOS for example).

But I guess in the long run they should think of decentralization because if not, ETH will just have to move to its 2.0 in order to have lower fees to be a "better" solution

1

I have not been following EOS closely. They have seriously dropped the ball on many things including DeFi: https://www.coindesk.com/effect-network-abandons-eos-binance-smart-chain EOS never had a killer DAPP that is dependent on EOS. We have https://dlux.io by @disregardfiat and https://tribaldex.com None of them have strong tokenized incentives like that of Uniswap.

We do have this proposal which aim to do on HIVE what Binnace did with Ethereum:https://peakd.com/me/proposals/164

0

This is a very good analogy, it makes a lot of sense, even so for now I'll stay on the winning side, that's how trading and investments are. Surely if Ethereum solves its tariff problems or any other project goes to the top, I'll be there to keep an eye on it or at least I'll try to. Greetings.

Posted Using LeoFinance Beta

1

Keep an eye on Cardano (ADA) as well. It is a great project. I doubt the price will increase a lot more compared to other investments because Cardano already has a hug marketcap. But as a cryptocurrency project, they are as blue chip as they come.

0

Greetings dear @vlemon, in addition to breaking the last resistance zone that had marked, I am aware that it is very close to the burning of more BNB, which very possibly motivated more investors to buy them.

Posted Using LeoFinance Beta

0

Congratulations @cieliss! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :

You received more than 4000 upvotes.
Your next target is to reach 4250 upvotes.

You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

Support the HiveBuzz project. Vote for our proposal!
1

I love the way you analyse the market using multiple time frames, trying to ensure that they line up.

It's similar to how I trade so I'm looking forward to seeing more of your work published on LeoFinance going forward :)

Posted Using LeoFinance Beta

1

Thank you very much, for your valuable words, also analyzing I am looking for exactly that. Although I do not have much experience, I like to make the analysis as simple as possible in order to understand the current price situation and the asset itself. Best regards.

Posted Using LeoFinance Beta

0

I've bought BNB some time ago and glad I'm that I did it. I continue to purchase some small amounts of it and use it for staking and liquidity pool launches.

I see also that it can reach a 5 figure sum in the time to come.

Posted Using LeoFinance Beta

1

Very good, excellent, I think it is also a good idea as long as the trend continues and always making sure to have some BNB to be able to pay the DeFi platform fees.

Posted Using LeoFinance Beta

0

I believe BNB will have the same value of ETH or at least half of it within this year.

Posted Using LeoFinance Beta

1

It is quite ambitious, but anything can happen, we just have to follow closely what happens with these projects and try not to miss anything.

Posted Using LeoFinance Beta

1

Very wise decisions to have invested in BNB. It might not be able to flip Ethereum but it will give it a wild run for its money.

Posted Using LeoFinance Beta

0

This is true, I like to see this competition between two great projects.

Posted Using LeoFinance Beta

0

Lol when you launch Tesla stonks on your site your shits going to the fucking moon for sure

Posted Using LeoFinance Beta

0

Straight to the moon and hopefully all of our portfolio as well. Greetings my friend.

Posted Using LeoFinance Beta

0

BNB definitely has the potential to hit a thousand, may be even more, and soon. Binance has essentially just started to get popular with their blockchain, support, NFTs, etc. and I believe there is only going to be more people using it, thus pushing up the price.

However, it seems that BNB will take a fall over the next few days after a massive buyout before continuing its run upwards. It seems not too late to buy BNB (not financial advice!), and what I am going to do is hodl - the best option here.

Posted Using LeoFinance Beta

1

Very good, I also believe the same, Binance is the gateway for many to come to this crypto ecosystem, of course I agree, with a correction being the healthiest thing to do for the price to continue its upward path. I hope to see it also at 1000$.

Posted Using LeoFinance Beta

1

Though I missed the BNB run, I am all in for WRX which is just following the BNB's path

Posted Using LeoFinance Beta

0

Very interesting, I have not followed the path of that coin, but I will surely give it a look, Thank you very much and greetings.

Posted Using LeoFinance Beta

0

Certainly BNB is leaving us speechless, I would not be surprised if very soon it surpasses ETH and becomes the second currency with the largest market capitalization, since many people use BNB daily and as it is much cheaper it will be the bomb.

It is time to buy BNB, as I can predict that it will reach $1000 very soon.

Posted Using LeoFinance Beta

0

I agree with you, Binance and BNB are very well positioned right now, but if they continue like this they can reach a very good place in the Top. Let's hope that $1000 will come soon. Regards.

Posted Using LeoFinance Beta

0

That would be awesome, me having metamask in my wallet would be worth $10 hahaha.

Posted Using LeoFinance Beta

0
1 yr

After using Cub Defi, I've gotten to know the BSC a little bit better. The utility is incredible and I can see why people are beginning to take notice of that. I have no idea what the ceiling may even be.

Posted Using LeoFinance Beta

0

Exactly, I think the Ethereum pond and the problem with their fees, has exposed the Binance Smart Chain and all its goodness. Let's wait and see what happens in the future.

Posted Using LeoFinance Beta

2
1 yr

Agreed, BSC is going to grow and hopefully overtake ETH

Posted Using LeoFinance Beta

0

Nice decision to invest with some logic of performance of the Binance Exchange. Sometimes I think Crypto world is changing faster than I can understand... Lately DeFi is giving additional value to BNB (and still I don't get clairly about DeFi, it took me hours to Buy BNB divide and put liquidity to another project, so that's why much more use of BNB; but now we have NFTs... again, I am behind of all that new things!
Anyway, it looks like 2021 is the CRYPTO-YEAR!

Posted Using LeoFinance Beta

0