The structure of price action between Binance and Ethereum charts is like twin sisters who have almost the same face and character. You may check again this link to my previous Ethereum article. While technically they both have a similar structure that has uptrend domination with a clear and strong upward trend in long-term optimism. The long-term upward trend can be clearly seen from the formation of an upward trajectory of their major supports with strong Pin bars and Tailed bars pined there. Based on my technical calculations that Binance has 30~40 % higher uptrend density and speed than Ethereum. Please take a look at their similarities between Binance and Ethereum chart structure below,
Since February 2021 after Binance's breakout from 224, Technically Binance presented a clear and strong uptrend large structure. Today's analysis shows Binance seems to be playing correctively between 340 and 440 and after that, Binance is possible to consolidate again between 440 and 504 during March 2022. Based on the increasing levels of Binance's support, then Binance actually already dominates the upward trend towards its peak to break through its resistance at 674, which is possible to occur in the mid of May 2022. This is why I mentioned above that Binance's uptrend density and speed is about 30~40% higher than Ethereum which is likely to peak later by end of June 2022 (as mentioned in my previous article).
Investment idea: Current momentum seems to be the best time to invest in Binance because it is being in a nice hot spot position, that is at the lowest point that approaching the lowest strong support of 340, so if you could take advantage of this momentum, you should most likely just have to wait nicely for the possible big harvest in the next 3 months (expected to be occurred in mid of May 2022).
As an additional investment idea on Binance that is similar to Ethereum, It is proper only to invest always by waiting for Binance price position to move close to its long-term support area because once again Binance has a clear and strong uptrend structure.
Please take a look at the following BNB/USD chart as the basis for my technical analysis of structural price action, which is quite simple but very logical. The chart is taken from Tradingview.com at the market close time on February 19th, 2022 with my user name, hidy_exostones.
Disclaimer: This article is based on my research and personal opinion. This is not an order or an invitation to do. Investing in the cryptocurrency market provides both benefits and risks. Every investment decision is the responsibility of the individual who made the decision. Please invest according to your personal risk profile.
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