- After breaking its previous peak, Binance Coin (BNB) reached its all-time high on February 2, 2021. While the trend is clearly bullish for the Binance Coin-USD pair, BNB / BTC is not showing the same performance.
After breaking its previous peak, Binance Coin (BNB) reached its all-time high on February 2, 2021. While the trend is clearly bullish for the Binance Coin-USD pair, BNB / BTC is not showing the same performance.
Binance Coin hits an all-time high
While the BNB has been moving up since March 13, 2020, it had not broken its all-time high resistance of $ 38 until January 2021.
BNB confirmed the $ 38 level as support before continuing its upward move.
So far, BNB has reached its all-time high price of $ 52.53 on Feb.2.
Technical indicators in the weekly time frame are showing an upward trend, supporting the continuation of the upward movement.
Critical levels for BNB
Data from the daily chart supports this possibility by showing multiple retests of the $ 38 field. This was also combined with a hidden bullish divergence in the RSI.
The MACD is also moving upwards and the Stochastic oscillator is very close to a bullish trend. This seems to indicate that the trend is up and BNB is expected to continue rising.
The wave count indicates that BNB is approaching the peak of the third wave of the bullish impulse (shown in white below) that started with the March 2020 lows.
BNB achieved a set of possible targets between $ 51.34 – $ 53.81 found using a combination of Fib extensions, projections, and external retractions.
While it is possible for the third wave to hit $ 65-69, it is more likely to stop close to the current level.
The lower wave number is given in orange.
BNB Wave Count
BNB / BTC
Cryptocurrency trader @Thebull_Crypto outlined a BNB chart indicating that a pump is likely to come, giving a possible target of ₿0.0019.
BNB / BTC bounces at the 0.786 Fib retracement level as it faces strong resistance at the previous breakout level ₿0.0019.
While technical indicators are clearly bullish, the trend will not be confirmed until BNBBTC regains the level of ₿0.0019 and confirms this as support.