Why Binance Coin (BNB) is About To Skyrocket

Why Binance Coin (BNB) is About To Skyrocket

Hello friends! The world has gone completely insane, but it is ok, because we have crypto to keep us sane! In the past couple of weeks, we have been heavily buying the dip on all the major cryptos and many NFT projects. This decision was based on the a simple calculation: the current state of global insanity is just one big advertisement for crypto. For this reason, we piled in heavy into Solana, Ethereum, Bitcoin and Binance Coin. As of now, each of these is up significantly. It is still too early to tell if we are going right back to all time highs, but that is irrelevant. Our conviction thesis on crypto is simple: We are very early. And with that, let’s check out why we think Binance Coin is about to skyrocket.

Technical Analysis of BNB

First, our traders noticed earlier in the day that there was a nice sized bid in Binance Coin. Within a few hours, BNB started to pump heavy.

Let’s check out the chart:

Why Binance Coin (BNB) is About To Skyrocket

As you can see here, the primary resistance line has been broken. Slightly, but broken through. That does not guarantee a comeback to all time highs, but it is telling.

Additionally, we can look at the MACD on the daily chart and see we are just starting up in the green zone (crossover):

Why Binance Coin (BNB) is About To Skyrocket

Although it is still too early to tell whether this means anything, we believe crypto is in position to begin rallying hard. We have already seen some massive pump today, from blockchains like NEAR Protocol, which is currently up 35% in the last 24 hours.

Crypto moves fast, which is why you always buy the dip. We will be updating more on this as time goes on. Don’t forget to comment your thoughts and message us on Twitter.

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