About Binance Coin
Binance Coin is known as the native cryptocurrency of the world’s largest cryptocurrency exchange, Binance. Investors trade this currency under the symbol BNB. Using this token has allowed users of this exchange to pay lower transaction fees on this platform. BNB initially operated on the Ethereum ERC20 blockchain but after the launch of Binance’s own blockchain in April 2019, it was transferred to its native blockchain, Binance Chain. Binance’s goal is to increase the use of BNB, in addition to increasing the price of this token, and to gain a decent market share in competition with other blockchains, especially Ethereum.
Binance Coin (BNB) Forecast by NEoWave
BNB currency first rose to $25.18 and then its price correction began.(Weekly Timeframe)
The price correction (Wave B) of this currency was in the form of a Double Combination with Big X-Wave. Then, a good demand for BNB was formed and the price of this currency grew by 2400% and again we saw the price correction of this currency in the form of Neutral Triangle.
As you can see in the chart, after the third wave or (C) the Neutral Triangle pattern is clearly visible and it seems that we are in wave d of this triangle. Wave d of the Neutral Triangle is not over yet but soon wave e of (D) will start and after that BNB upward movement will continue.
If a strong candle breaks the resistance of $691 from the current price, we should consider wave (D) to be over and the label of wave (D) will be located where the red circle is.
Good luck
NEoWaveChart