THE token linked to the most important exchanges in the world are experiencing a moment of great strength. This is also the case with Binance Coin, which has broken through like butter the psychological resistance to $ 600, triggering cascading liquidations.
The fight of the day will remain around this threshold – with the possibility of interesting developments towards the all-time high that could materialize also during the next week.
With less than $ 100 that separate Binance Coin from an all-time high, there is still ample room for exposure.
BNB in record growth – and the shorts pick up the pieces
Binance Coin – the token linked to the Binance Smart Chain and to the broker of the same name Binance – was one of the most solid of the week that is about to end. Overcoming various resistances, in the morning he left behind even that of $ 600, very important under the plan symbolic and also as regards the technical aspect.
- Collaboration with the FC Porto
All this while the Launchpad for the official token of FC Porto – PORTO – which, as already happened with the Lazio will be managed directly by Binance on his network. Which suggests that what happened in Italy a little while ago he was just a pilot of a much larger project in the world of football. Project that could take away some land a Chiliz – which is the reference token for the world of football and its clubs.
- Big liquidation of shorts
The sudden growth of BNB has also triggered important liquidations of short positions with significant capital behind them, thus contributing to one short squeeze which was partly responsible for what we have seen in the last few minutes on the market.
Price linked to volumes, with Binance aiming to confirm itself as the first exchange in the world
Although it is the most liquid and the least institutional of the cryptocurrency exchange of a certain thickness – Binance aims to confirm its dominance in terms of volumes. This despite the hasty closure of operations on futures in several European countries and the downsizing of some services due to the non-compliance with some European rules.
The level reported by us as short-term target price on BNB has been achieved, with that of medium term which could now be a matter of a few days of exchanges. A small satisfaction for us, who had correctly indicated what the horizon of the token when it was worth less than half today.