Crypto-Upvotes experts reviewed the prospects of cryptocurrency BNB and told what will lead to an increase in its price
BNB is a cryptocurrency that supports the Binance Chain ecosystem. BNB is one of the most popular utility tokens in the world.
The token is a key asset in the launchpad system (launchpad, a platform for launching initial offerings of tokens) and sales on the world’s largest cryptocurrency exchange Binance, which directly affects its value.
The need to keep the token on balance encourages those wishing to participate in exchange events to buy.
In terms of technical analysis, we have seen a very technical nudge towards the $325-340 level for a year now.
The “rising triangle” pattern generally warns traders of an impulsive upward price breakout soon. The pattern is characterized by ” pressing up” prices from below. The maximums remain at the same level. And minima increase, “pressing” the price to the upper boundary. This is followed by an impulsive upward price breakout and destruction of the counter resistance.
The rising lows marked on the chart at $180, $225, $265 and $320 technically form an upward movement. In our opinion, the price is in the final point and the exit from which could provoke its rapid growth.
The smaller timeframe also suggests a local uptrend, which allows you to enter the trade with a small stop loss.
Buy BNB/USDT at $317.
Risk: 10% of capital.
Stop loss: $300.
Take profit: $457.
Crypto-Upvotes does not provide investment advice. This material is for information purposes only. Cryptocurrency is a volatile asset that can lead to financial losses.
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