Price Analysis: Binance Coin (BNB) Uptrend Favors Dip Buyers, Expands With 7 Use Cases In February - Today's Gazette - Cryptocurrency, Bitcoin, Ripple, Tron, Verge, Cardano News
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Price Analysis: Binance Coin (BNB) Uptrend Favors Dip Buyers, Expands With 7 Use Cases In February

Altcoins

Price Analysis: Binance Coin (BNB) Uptrend Favors Dip Buyers, Expands With 7 Use Cases In February

Binance Coin (BNB) began the last 24 hours market chart with a sharp downward trend to correct its $9.85 value against the US Dollar. Nevertheless, trade pair BNB/USD resumed on the rising wedge for an intact upward trend which placed the value of the coin above key supports with rigid bounce back against USD and BTC.

Key Points

  • BNB/USD price dipped below $9.85 support level lately.
  • The 15 hours chart displayed connection between the downward trend and upward trend as the coin found another support above $10.02 against US Dollar.
  • BNB/USD trade pair rallied for support above $10.2 to favor dip buyers.

Binance Coin (BNB) Intraday Price Analysis

After finding solid support around the $9.85 level mark, Binance coin (BNB) witnessed a decline which swung the value of t altcoin below $9.6 for another support around $9.56 against US Dollar.

The slight dip was then succeeded by a bullish race on the rising wedge, and this placed the altcoin on the upside trend with a close value above the $10.0 mark and the 100 simple moving average (4-hours). BNB/USD trade pair corrected the $9.6 dip with an uptrend that tested the $10.2 mark before maintaining balance around $10.1.

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Binance Coin (BNB) Price analysi

There was simply a break above the connecting bullish trend line with resistance at $10.0 on the 12-hours chart. The pair also escaped the $10.2 resistance with 50% Fib retracement level.

Binance Coin (BNB) favored dip buyers by forming a new resistance around $10.2 mark from an initial floor value around $9.6.

Binance Coin (BNB) Expands With 7 Use Cases In February

Binance Coin (BNB) aims to continue to host sail in the crypto space with series of developments. The cryptocurrency which leverages Binance exchange today announced the new use cases of the coin for the month of February in 7 different categories.

According to the update made live on twitter, Binance Coin (BNB) is now available on 11 platforms as payment option. Amongst them, HTC – where the coin is used to buy phone, ETHLend – for taking loan, and Adamant Messenger – for fund transfer, amongst others.

Other categories includes:

Travel and Utility: Here Binance Coin (BNB) is acceptable by five different firms for transactions involving travel and utility.

Entertainment: With transaction efficiency, Binance coin (BNB) made its way into the entertainment industry through 7 companies which includes Vibe, MoreCoin, Decentraland, and more.

The remaining categories include; Platform, Wallet, Service and Cash transaction via Metal Pay, Dether and Spend.

I am a lifetime Entrepreneur, Contributor @Thrive Global, @Oracle Times, @Coin Gape. Khalid Lawal is a lover of Blockchain technology and a junior analyst. • Hopes to be a venture capitalist one day. 

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