- BNB showed a relative strength compared to a wider market, while others faced a deeper fullback while maintaining the main level.
- USDC continues to enter Bionos through MICA regulations..
Binance Coin (BNB) is relatively better than the general market. Recently, strengths have been made by maintaining important prices due to the recent decline in the market.
The latest purchase SPREE delivered the price to the main resistance level. This level pointed out the potential in the short term, but also paid attention to the approach to resistance.
Price behavior and prediction
Binance Coin rebounded for about $ 560 to check the double floor when the $ 650 was violated.
The high trading volume accompanied by BNB was probably caused by traders trying to benefit from short -term movements.
Price measures are between $ 690 and $ 730. The price range of $ 730 was attempted several times in the last quarter, but it was not convincingly violated, indicating that sales pressure is increasing.
If the purchase pressure persists, the BNB can try to violate the resistance level of $ 730.
However, because there are already a large number of short liquids in the book, it can no longer act as a resistance to the rise. Violation of resistance can increase the road to the rally to $ 794.68.
Source: TradingView
On the other hand, if BNB does not maintain its current momentum and is assaulted by an aggressive selling from an important resistance, there is a risk of returning to a lower level.
The most important support under the current level is $ 550.
The failure below this level can invite more sales, which can test the $ 500 area, which was previously psychological support.
In short, BNB can still make a higher deal, but the proximity to the key resistance and the short liquidation must be careful.
For optimistic confirmation of $ 730 or more or failure of less than $ 550 for a consecutive consecutive consecutive.
Stable coin growing in Biny!
The USDC market share for Binance increased 1,621%from 0.48%to 8.26%last year. The growth of double curve is mainly due to the planned plan of the USDT for EU customers to comply with the MICA regulations.
Change not only increases USDC visibility, but also affects the stability of BNB.
Source: cryptoquant
Regulatory development is struggling with stable movement, so you can well verifying the double floor pattern of BNB.
The stablecoin operation will continue to amplify on the platform, which will reverse the BNB reversed.
However, it is important to maintain upstream and disadvantages for traders who are active in BNB trading measures in this key market.