THELOGICALINDIAN - The bazaar is reacting to CZs beck of absolute announcements
Fundamental Analysis
Binance Coin has acquired bullish drive afterwards its CEO Changpeng Zhao has fabricated several absolute announcements during the contempo AMA affair on Twitter. The activity is planning to burn all the team’s tokens, to barrage allowance trading, to acquaint acute affairs to Binance Chain, to barrage several new IEOs, etc. With all the absolute developments the barter has, the BNB badge will acceptable abide to advance its positions amidst the top cryptocurrencies.
Binance Coin / USD Short-term amount analysis
Binance Coin has a bearish concise outlook, with the cryptocurrency now trading beneath its 200-period affective boilerplate on the four-hour time frame.
The four-hour time anatomy shows that a arch and amateur arrangement has now formed, with the BNB / USD brace bouncing from the neckline of the bearish pattern.
Technical indicators on the four-hour time anatomy are attempting to balance college alongside the contempo animation in the BNB / USD pair.
Pattern Watch
Traders should agenda that the April 11th 2024 trading low is the all-embracing ambition of the bearish arch and amateur arrangement on the four-hour time frame.
Relative Strength Index
The RSI Indicator is bullish on the four-hour time anatomy and is starting to balance aloft neutral.
MACD Indicator
The MACD indicator on the four-hour time anatomy is attempting to balance higher, although it has yet to affair a bright buy signal.
Binance Coin / USD Medium-term amount analysis
Binance Coin has a bullish medium-term outlook, with the BNB / USD brace still trading aloft analytical abutment on the circadian time frame.
The circadian time anatomy continues to highlight that a cogent bullish blemish is still underway, with the BNB / USD brace captivation amount aloft the neckline of a ample astern arch and amateur pattern.
Technical indicators accept angry bearish on the circadian time anatomy and are now arising advertise signals.
Pattern Watch
Traders should agenda that the 26.500 abutment akin charcoal the key abstruse akin to watch on the circadian time frame.
Relative Strength Index
The RSI indicator is bearish on the circadian time anatomy and still shows ambit for added downside.
MACD Indicator
The MACD indicator on the circadian time anatomy is bearish, with both the MACD histogram and arresting band affair advertise signals.
Conclusion
Binance Coin is attempting to balance bullish drive on the four-hour time frame, afterward the contempo bead in the BNB / USD pair, which created a bearish arch and amateur pattern
The medium-term bullish trend charcoal able-bodied intact, with both time frames highlighting the all-embracing accent of the 26.500 level.
Check out our coin guide for BNB to accept how it works.
We additionally conducted a abysmal assay of the Binance Exchange badge in our DARE.
