Binance Coin (BNB), the native token of the world’s largest crypto exchange Binance, reached an all-time high against Bitcoin (BTC) as a result of the price movements on July 29.
Binance Coin has been one of the parities least affected by the decline in the crypto money markets since December 2021. From the all-time high (ATH) during the downturn 70% BNB, which experienced a decline around 86%Cardano, experiencing the decline of 85% It outperformed its closest rivals, such as Ripple, which was in decline.
Approximately 55 billion dollars BNB, with its market value, is the stable user-oriented operation of the Binance exchange, the reliability it offers and the support in many languages. continues to grow at a parallel pace.
The previous peak of BNB/BTC parity 0.01235 on 10 May 2021 was seen in percentage. As of yesterday 0.01259 The parity, which has risen to levels, has gone down in history as the most valuable moment of BNB against Bitcoin in the process so far.
BNB Technical Analysis
Binance’s native token, BNB, hits an all-time high (ATH) your $690 approximately 290 below 58% from dollars is being traded. Yesterday $ 300 bearish for BNB reacting from its resistance initial support level and coincides with the liquidity zone $274 can be displayed. If the decline continues, we will see it as the second support. Retest zone at $244 coming out. On the upside, the first reaction will be if it breaks $300 strongly. at $344 It will be the MA200 moving average.
When we look at the BNB/BTC parity, a bowl-handle formation draws attention. In case this formation does not deteriorate and the upward movement continues, the formation target 23%with an increase of 0.0153 level can be determined.
None of the data presented is investment advice. It is entirely the author’s own opinion.