IITMIND: EdTech, Finance and Crypto currencies



BNB recently witnessed a massive rally showing a record growth of over 40% following this week and almost touched $633.54 a record high since May 2022, when the entire crypto industry witnessed the fall of Terra (Luna). The current value of BNB marked a two-year high as the coin had experienced the worst bear market. One reason for this forecast is the altcoin’s liquidation levels.

Also, as per the analysis of the BNB/USD daily chart, the On Balance Volume (OBV) has jumped in recent times. Concerning the price action, this was a bullish signal. In addition, the Directional Movement Index reinforced the OBV signal.

For the moment, it might not be a great idea to open a short BNB position— especially one with high leverage. For the uninitiated, shorts are traders who bet on a price decline and intend to profit from it. BNB’s liquidation level shows that the price could rise to $565.38 soon. If the price hits this level, shorts might experience a high level of liquidation, leading to fall of altcoins market cap too.

As of now, at the time of writing this article, BNB is trading in range of $610 - $630 and has seen a price jump of 27.58% over the last week and currently stands at #4 with a market capitalization of $90.1 Billion as per data from CMC.

>> Disclaimer Risk warning:- Cryptocurrency Investment is subject to high market risk. The information on our website is for educational purposes only. Please do your own research before investing anywhere, we will not be responsible for your investment losses.

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