Analyst Kaleo, one of the decisive names in the cryptocurrency market, states that Binance Coin (BNB), the native token of the Binance Smart Chain ecosystem, may be one of the strongest performing assets during the current market correction. Kaleo believes that BNB is preparing for an upward move and shares his analysis to support this view.
Focusing on the BNB/BTC chart, the analyst claims that BNB will exhibit a stronger performance compared to Bitcoin. In his analysis, BNB will gain more value than BTC. predicts.
“I still believe BNB is currently one of the highest value (market cap) buys in the market with this bottom/retest move.”
Looking at the details of the analysis, it is estimated that BNB/BTC could reach a significant price of 0.0115 BTC ($786.98). At press time, the altcoin is trading at $551.
Kaleo is also bullish on its altcoin project Injective (INJ). According to Kaleo, INJ is poised to move towards new all-time highs after reaching the $45 resistance level. According to the analyst, there is still optimism for INJ at this point and it would be a big surprise if prices do not confirm this breakout/retest process and continue the upward trend.
“I’m still optimistic about INJ here.
“I would be very surprised if price does not return to discovery with this breakout/retest.”
Another important factor supporting this positive stance on Injective is the developments observed on the INJ/BTC chart. According to Kaleo, the critical resistance level near 0.0004 BTC ($27.37) on the INJ/BTC chart is now acting as support. This signals that a major upward movement is at the door. Looking at the chart, the crypto analyst predicts that INJ/BTC could rise as high as 0.0035 BTC ($239).
“The INJ/BTC chart is clearer and gives me more confidence.
Breaking the higher time frame, turning support into resistance… accumulation above the support level… then the next big rally should be.”
At the time of this writing, INJ is trading at $39.41.
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