BNB’s Upward Trend Persists Despite Analyst’s Pessimism

• Crypto expert il Capo Of Crypto predicts Binance Coin (BNB) crash.
• BNB price exceeds forecast, trading at $233.68 with a 2.54% increase.
• BNB’s MACD indicator suggests a potential continuation of its upward trend.

The digital currency trader and expert known as il Capo Of Crypto, who operates under the pseudonym X, disclosed in a recent post that he holds a pessimistic view of Binance Coin . He pointed out in the post that several signals, including “PA, heatmaps, IO, and fundings,” resemble those of FTT or LUNA before their collapse.

In a previous post, the analyst disclosed that he anticipates the Binance ecosystem’s native token to reach a value range of $40 to $45. Following that revelation, he has steadily increased his short position, employing a swing trading approach with minimal leverage.

Information from the digital currency market monitoring site CoinMarketCap showed that BNB’s trading price exceeded the analysts’ forecasted target. Currently, the alternative cryptocurrency is being traded at $233.68. This price point reflects a 24-hour increase of 2.54%. The recent rise in BNB’s value has resulted in its weekly performance figures moving out of negative territory, now showing a gain of +1.28%.

During the previous trading day, BNB surpassed the significant resistance level at $230. If it manages to end the current day’s trading with the daily candle above this threshold, it could establish the necessary base to ascend to the subsequent key hurdle at $240 over the next week.

On the other hand, if the daily candle finishes under $230, BNB might soon experience a pullback to the nearest support level. BNB could drop to around $220 if this less optimistic situation occurs.

Market participants, including traders and investors, should know that an important positive technical indicator was about to be activated. As of the latest update, the Moving Average Convergence Divergence (MACD) line appeared poised to move above the MACD Signal line. The potential crossing of these two lines could suggest that the upward trajectory of BNB might persist.