⚡️ Hello, everyone! I decided to do a review of BNB. It's practically a stablecoin. But does the token have any potential other than being used for airdrops on Binance? Let's find out!
BNB has now closed the gap above, and now there is a large gap below at the $556 - $499 levels. And as we know, 99% of gaps close sooner or later.
⚙️ Metrics and Indicators:
Money Flow - is the joke about stablecoins not a joke? Liquidity has been virtually unchanged for about two years. There is a slight closing of positions, but this is not critical. Liquidity remains in a stable neutral zone.
Liquidity Depth - there is approximately the same amount of liquidity at the top and bottom. Since this token is not highly speculative, this is not surprising.
Volume - sales volumes continue to decline. Even within the correction, and when retesting the same level, volumes are already significantly lower.
Support/Resistance - the level of $611 is a strong support. It is clear that there is high buyer interest at this level.
📌 Conclusion:
The only time BNB starts to be interesting is when it falls so low that everyone suddenly remembers it. This was the case last summer, when the price fell from $700 to $400 and everyone was like, “Oh! There is such a token as BNB and it's in the top 5! It's a bit cheap, I should buy some!”
Similarly, I have no interest in BNB until the gap closes. Which is just before the $500 level, where some whale accumulation is already beginning.
🔥 Have a nice day, everyone!
BNB has now closed the gap above, and now there is a large gap below at the $556 - $499 levels. And as we know, 99% of gaps close sooner or later.
⚙️ Metrics and Indicators:
Money Flow - is the joke about stablecoins not a joke? Liquidity has been virtually unchanged for about two years. There is a slight closing of positions, but this is not critical. Liquidity remains in a stable neutral zone.
Liquidity Depth - there is approximately the same amount of liquidity at the top and bottom. Since this token is not highly speculative, this is not surprising.
Volume - sales volumes continue to decline. Even within the correction, and when retesting the same level, volumes are already significantly lower.
Support/Resistance - the level of $611 is a strong support. It is clear that there is high buyer interest at this level.
📌 Conclusion:
The only time BNB starts to be interesting is when it falls so low that everyone suddenly remembers it. This was the case last summer, when the price fell from $700 to $400 and everyone was like, “Oh! There is such a token as BNB and it's in the top 5! It's a bit cheap, I should buy some!”
Similarly, I have no interest in BNB until the gap closes. Which is just before the $500 level, where some whale accumulation is already beginning.
🔥 Have a nice day, everyone!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.