After hesitating near the all-time high at £465.76 on May 1 and 2, the BNB/GBP pair made a strong move higher on May 3. If the bears sustain the price below £465.76, several aggressive bulls may get trapped, resulting in a long liquidation. The buyers are currently attempting to push the price above the 20-day EMA. A break and close above this level could signal the resumption of the uptrend. The bulls will then make one more attempt to push the price above the 50-day SMA.
- The long tail on the day’s candlestick suggests that bulls purchased this dip.
- Sustained buying pushed the price above the £305.40 overhead hurdle on October 1.
- BNB Coin rose above £282 on June 2, triggering our buy suggested in the previous analysis.
- A strong rebound off the 20-day EMA will suggest that the sentiment remains positive and traders are accumulating on dips.
- Therefore, if you are from the United States and want to use Binance, you will probably have to wait for the launch of the national exchange.
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Users can withdraw crypto into 14 major fiat currencies including USD, GBP and EUR as well as a withdrawal into Fiat Wallet and Crypto exchanges worldwide. Platinum Crypto Academy provides training to all individuals who wish to take advantage of the phenomenal opportunities that this digital currency revolution presents. Platinum has been providing trading education for over 5 years and is perfectly poised to support you in your quest to becoming a Cryptonaire. Contrary to this assumption, https://www.tokenexus.com/ if the BNB pound price turns up from the current level and rises above the 20-day EMA, it will suggest accumulation at lower levels. A breakout of the 20-day EMA can propel the price to the 50-day SMA. The BNB coin bulls have not been able to push BNB above the 20-day EMA in the past few days, which suggests the bears are defending this resistance aggressively. However, the moving averages are sloping down and the RSI is in the negative territory, indicating advantage to the bears.
Even though it differs from Bitcoin and Etherereum pricing direction, like any other cryptocurrency, is directly correlated to Bitcoin. Thus, news about developments that further impact cryptocurrencies’ traction drives the prices of cryptocurrencies, upwards. Especially in the case of BNB, the growing number of Binance exchange users getting exposure to the exchange is a major driving force behind the adoption of BNB. BNB price GBP broke above the symmetrical triangle and soared above the £200 overhead resistance on March 9. The bulls attempted to resume the uptrend on March 11 but they could not sustain the higher levels, as seen from the long wick on the day’s candlestick.
The bulls have been sustaining the price above this level for the past few days, which is a positive sign. The pair could now rally to the overhead resistance at £377 where bears may again mount a stiff resistance.
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As we noted earlier, one of the main things attracting cryptocurrency traders is that the platform has one of the largest lists of cryptocurrencies. While the main players – notably Bitcoin, Ethereum, Bitcoin Cash, Litecoin and EOS – are of course supported, Binance is also ideal for much smaller tokens. Once your cryptocurrency deposit has been credited – which usually only takes minutes, you’re ready to start trading. Hover over the “Exchange” button at the top of the screen and choose whether you want the “Basic” or “Advanced” trading platform.
Cointree serves clients through its head office based in Melbourne, Australia. However, the company anticipates increasing its global presence soon. Cointree operates under the regulations of AUSTRAC – Australia’s financial regulator. The company is also compliant with the Financing of Terrorism & Anti-Money Laundering rules and guidelines.
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Unlike most crypto exchanges, Cointree doesn’t offer a full-fledged trading platform. Instead, clients can buy and sell cryptocurrencies using the company’s web terminal.
The BNB/GBP pair attempted to bounce off the 20-day EMA on April 19 but the long wick on the day’s candlestick shows traders sold on buy gochain rallies. The BNB/GBP pair dropped close to the strong support at £247 on January 22 and the bulls have held the level since then.
The bulls will have to push and sustain the price above £289 to signal the start of a sustained recovery. Alternatively, if the price turns down from the current level and breaks below £275, the bears will try to pull the pair to the strong support at £247. This level could attract strong buying from the bulls as they have successfully held it on two previous occasions. The company charges a flat fee between 0.5% to 0.9% of the transaction amount on buying or selling cryptocurrency. Trading high volume increases your tier and lowers your trading fees. You can visit the exchange’s fee page using this link for more details. Until recently, Binance was primarily a crypto-crypto exchange, which means it had no involvement in fiat deposits or withdrawals.
- Binance Coin bounced off the £160 support on June 22, indicating that buyers are accumulating on dips.
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- The current pullback is likely to face stiff resistance at £302.79.
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- The main focus of Binance is on the trading of altcoins but also offers to trade in DeFi tokens, Bitcoins, and stablecoins.
The platform offers a variety of payment options, including bank transfers, credit cards, and debit cards. Cointree also supports a variety of altcoins, including Bitcoin Cash , Ethereum , Litecoin , and Ripple . Cointree is one of the pioneer crypto exchanges that lets users buy bitcoin and other cryptocurrencies with Australian dollars.
Author: Shaurya Malwa