Binance Coin to trade on EToro: Price Analysis
- Etoro has announced that they will be listing Binance Coin to be freely traded
- BNB will be listed later this week
- The market has not yet reacted to this news
- As of writing BNB is 2% down on the day.
BREAKING. FOR IMMEDIATE TRADE AND INFORMED DECISIONS
What does the Technical Analysis Suggest?
- As a result of Bitcoin down 2% on the day, BNB has matched that to also be 2% down on the dat
- BNB has been in high accumulation over the past 4 Months
- The past 1 month has had heavy sell side pressure
- The lowest it has seen in the past four months is $8 – the high being $12.25
- Currently being traded within 2 tight ranges.
- Trading under the 15MA at the moment – this can be used as a resistance, with the bullish news BNB could trade at over $10.5 in the next 48 Hours.
What does the short-term T/A suggest?
- There are several volume gaps at $8.40 and $11
- As a result of this bullish news and the entire crypto market looking for profit making coins – BNB could be Fomo’d into.
What should I do if i want to enter into this trade?
- Beaware that the lows is $8 and the highs $12.25
- That BNB could revisit $8 – however as result of the bullish news it will seek to retest $12.25
Enter at market level and take profit at $11 with a full take profit at $12.25. Stop loss should be at $9.46
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