Binance Coin Price Analysis: Huge Volume Loading Up Behind BNB

shutterstock 520767778 640x400

Binance Coin (BNB) is standing out as the best performing cryptocurrency among the the top 10 right now, having secured a 29% gain over the last 2 weeks. Analysis suggests further upside movements could play out over the coming days and weeks. Binance Coin Daily Analysis On the daily chart, we can see the pull-back stemming from 0.0044 sats at the beginning of July that resulted in price levels retracing back to the current market price. This pull-back resulted in BNB losing over 40% of its value. Since then, the volume on BNB has seen the largest spike in recorded history around the current market price, resulting in little to no immediate impact on price levels. This leads me to believe heavy accumulation is occurring. Price action appears to have formed a descending wedge with the resistance line sitting around the 0.5 fib at 0.0030 sats. Providing this resistance point…

Read the original article here