Binance Coin (BNB) has gone up by 150%. This has happened after the recent price cash. The next move is set to happen after the price touches upon the $16 level.
The medium-term analysis of Binance Coin has consolidated after the selling pressure, which occurred from November 13, 2019, through November 22, 2019.
The coin dropped from $22 down to $14 level. At the time of the press, the price of the Binance coin has been trending at the $15 level.
If more buyers enter the system, the price of the cryptocurrency will increase, and this will retest the $16 price level. It is likely for the price to move towards $22. If the price continues to fall, the market will touch back upon the lows at $14, and the next stop will be near $11.
The Moving Average Convergence Divergence (MACD) line, as well as the signal line, are above the zero line indicating a good buying signal.
On the short-term trend analysis, the price of the BNB is seen above the $15 support level. The price is trading above $15.77. The resistance level is seen at $16 and $22. Support levels are seen at $14 and $11.
Considering the current price consolidation moves, it is expected that there will be a wave of selling. Considering the current price trends, a short position will be attractive for investors.
CZ_Binance was live from Central Region, Singapore, in response to a couple of guys who asked about their future plans, stated, “We have multiple contracts enabled. There is a lot of demand for IOS Android apps. And, it is coming very soon. We are also working on isolated margins; different orders have different margins. They are isolated from each other. That is coming very soon as well.”
He also stated, “If you have not tried Binance Future, try. It is one of the lowest fees futures platforms out there. It is a very realistic market and one of the cheapest ways to trade. I would say, when you try futures with high leverage, don’t put all your money in one trade. You have got to split them up.”
Cross Collaterals and 10% discount on Trading Fees paid Using BNB will be introduced for futures.
CZ encouraged investors to try margin products, which supports a list of 14 coins, including Tezos, ATOM, TRON, Algorand, One, Fetch.ai, Elrond, Stratis, Qtum, Cosmos, NEO, Stellar, where most of the staking is for zero fees.
