BNB: $50 next?

By MadMaxx | Psycho Crypto | 3 Aug 2020


Hello, and welcome to another article.

In this article, I'd be going over the reasons I feel BNB can go to $30, and maybe even $50.

Before we get started however, I'd like you to know that I have created a technical analysis course, complete with liquidity analysis as well. It took me a while to create this course, so I do charge a little fee for it. However, it will take you from noob to pro in as long as you devote to it. Get the course on my telegram channel here.

Now let's get into the article.

ea9a11a273c518fc73395994ecbac4d852aef4ccebd744b6755dafd5b659ccba.png

From today's analysis, I said that BNB has the potential to really run far. And that line or thought holds strong.

The technicals are great. All BNB has to do is reclaim the resistance(yellow line). A close above that resistance on the D1, and price can begin to rally.

If the close happens on high volume, we may not see a retest of the area before a rally to the upside. However, if the reclaim is on neutral volume, we may see a retest of the region before a bigger move to the upside.

A close above $30 on the daily, a move to $50 is very, very possible.

Equally, the fundamentals are on point for BNB. New IEOs are coming up, and Binance is listing a few new coins as well. Equally, SXP is owned by Binance, and is doing very great things in the sector. All this as well as the fact that BNB is rebranding as DeFi soon. And we all know what happens when something rebrands to DeFi.

With both the fundamentals and technicals in place, BNB is up for a ride to the high fifties soon.

Thanks for reading.

Mandatory disclaimer: Nothing included in this write up constitutes financial advice. Be sure to do your own analysis before spending any money on crypto assets. 

 

How do you rate this article?


5

0

MadMaxx
MadMaxx

In the eternal quest for crypto fulfilment. I'm an obese frog on the internet, what I say most definitely isn't financial advice.


Psycho Crypto
Psycho Crypto

Fun experiments with crypto!

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.