Binance Coin [BNB] Gains 20.5%: Here’s Where to Buy

• Binance Coin [BNB] reacted extremely positively over the past two days of trading, gaining 20.5% within four days.
• The daily market structure has turned bullish, with a strong confluence of support at $292 and possible retracement to $285-$292 before a sustained move higher up the charts.
• The rising spot CVD and positive funding rate indicate long positions are dominant in the market, signaling a possible flip in sentiment.

Binance Coin [BNB] Gains Over 20% in Four Days

Binance Coin [BNB] reacted extremely positively over the past two days of trading, gaining by 20.5% within four days as Bitcoin’s gains translated across the crypto-market. A pullback as deep as $290 remains a possibility though, before a sustained move higher up the charts.

Daily Market Structure is Bullish

On the daily timeframe, the market structure for Binance Coin seemed to be bullish once more as it managed to beat the recent lower high at $294 and approached resistance at $309-mark over the past 24 hours. The Volume Profile Visible Range showed that the price was right above its Point of Control (POC) at $304.2 while Value Area High and Low were found at $322.8 and $274.7 respectively providing buyers with an opportunity to enter into trade near these levels along with 78,6% Fibonacci retracement level at $276.7 which was almost same as VAL low point indicating strong support around this region on lower timeframes too as seen from price action since early March 2021. The RSI crossed above 50-level also suggesting bullish momentum taking root while OBV recorded gains indicating further upside movement could be expected in near future if current sentiment sustains for some time longer than anticipated earlier due to ongoing corrective phase experience by BNB since beginning of this month after significant surge post mid February period when it reach all time high price level around 400$.

Spot CVD Surges Past February Highs

The funding rate had been negative over the last two days but it has slowly climbed back into positive territory indicating long positions being dominant again in market with rising spot CVD reflecting strong demand however Open Interest dropped during last 48 hours but still prices have appreciated during this time which points out weakening bullish sentiment among traders after successful rebound experienced by BNB earlier last week when it touched low point around 265$ resulting into buying pressure witnessed currently in market giving investors hope that prices may reach near pre pullback levels soon or maybe even cross them if trend continues further beyond expectations leading towards new all time highs for BNB possibly in coming weeks or months depending on overall crypto environment performance too apart from individual coin’s dynamics which play major role driving prices towards desired directions based on investors‘ sentiments & preferences prevailing across different exchanges globally where coins are listed & traded regularly contributing into liquidity pool available currently making markets more liquid than ever before resulting into opportunities available for traders & investors alike looking forward to capitalize onto favorable conditions prevailing across various exchanges nowadays due to increased volumes & liquidity pools created frequently due to various events happening globally affecting prices significantly either positively or negatively adding more volatility into equation making markets vulnerable to risks yet rewarding for those who can capture such trends timely without getting caught up in FOMO induced scenarios often observed during such surging phases leading towards huge losses if proper risk management strategies aren’t adopted accordingly resulting into losses exceeding initial investments made initially causing massive dent portfolios leading towards complete wipeouts sometimes due lack knowledge regarding functioning of markets hence caution must be exercised whenever entering any trade regardless how sure one might feel about returns associated with particular investment decision taken eventually because nothing is certain unless results are obtained finally only then one can claim success otherwise its just gamble like other games involving luck element along with skill set required mastering art trading digital assets efficiently enough reap maximum benefits out them without getting stuck between multiple traps laid open everywhere these days when everyone seems attracted towards lucrative returns offered through speculative trades happening every now then across all kinds global financial markets including crypto sphere having already established itself firmly amidst traditional counterparts competing against each other trying outperform rest competition available readily luring traders & investors alike utilizing best strategies suited their needs requirements order maximize profits without worrying much about risks involved process eventually .


In conclusion, longer-term buyers can wait for a retracement into the $285-$292 zone while more risk-averse traders can wait for a positive reaction over three days before looking to buy and trade with the trend given current bull run witnessed recently despite few pullbacks experienced recently due profit booking activities triggered few occasions preventing prices from sustaining uptrend maintained throughout most part current year so far delivering remarkable returns so far allowing holders make good profits even after considering taxes applicable respective jurisdictions where incomes earned through such investments need reported timely adhering laws governing local tax regimes else hefty penalties imposed noncompliance rules laid down authorities concerned otherwise too thereby creating win win situation both parties involved trade leading towards mutually beneficial outcomes always desired end game whenever investing undertaken seriously mind following risk management protocols religiously order minimize downside associated trading activities generally speaking .