YourCryptoNews
  • Live Prices
  • Crypto News
    • Altcoins
    • Bitcoin
  • Defi News
  • NFT News
  • Blockchain
  • Regulations
  • Trading
  • Scams
No Result
View All Result
YourCryptoNews
  • Live Prices
  • Crypto News
    • Altcoins
    • Bitcoin
  • Defi News
  • NFT News
  • Blockchain
  • Regulations
  • Trading
  • Scams
No Result
View All Result
YourCryptoNews
No Result
View All Result

Binance (BNB/USD) defends $267 support. Should you buy it?

October 14, 2022
in Crypto News
Reading Time: 3 mins read
A A
Binance (BNB/USD) defends $267 support. Should you buy it?
ShareShareShareShareShare

You might also like

Circle Singapore Gains MAS Approval for Digital Payments Service

Circle Singapore Gains MAS Approval for Digital Payments Service

June 7, 2023
Coinbase Reaches $100M Settlement for AML Failure

Alabama Regulator Questions Coinbase about Staking Programme amidst SEC Lawsuit

June 6, 2023

Binance (BNB/USD) trades at $273.7. The trading happened after the cryptocurrency fell to $257 on Thursday. BNB has since left a bullish trail that could interest buyers. But first, let’s look at a short brief. 

For the past week, BNB has been bearish and remains 2% down in the seven days to Friday. About a week ago, Binance Chan was drained, with over $100 million of assets getting moved. The hack was a bear trigger as BNB price has been falling.

Binance has since released an update to fix the cross-chain issue that could have led to the exploit. Recently, CoinJournal reported that the developers had released a temporary patch, v1.1.16. It will fix the BNB Beacon Chain and BNB Smart Chain cross-chain infrastructure. The patch also re-starts the cross-chain communication halted by the attack. 

BNB succumbed to bear pressure again on Thursday after inflation data, pushing the token below the $267 support. A higher-than-expected 8.2% jump in inflation raised prospects that the Federal Reserve could hike rates in November. Bulls seem to defy the flash crash, going by the current price action at the support.

BNB surges above $267 support as price recovers

eToro

eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.

Buy BNB with eToro today

Binance

Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.

Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.

Buy BNB with Binance today

Source – TradingView

A technical outlook of BNB shows a bullish pin bar at the $267 support. The token is pushing higher, but we remain cautious due to the weak momentum of the price movement. The MACD indicator is in the bear zone. Similarly, the moving averages offer resistance above.

What way, BNB?

BNB buyers are defending $267, giving the cryptocurrency a real chance to go higher. However, we should wait for momentum to build at the key support before buying. A retest of the support zone followed by bullish reversal signals or improved sentiment could attract buyers.


Share this article

Categories

Tags

Credit: Source link

Related Stories

Circle Singapore Gains MAS Approval for Digital Payments Service
Crypto News

Circle Singapore Gains MAS Approval for Digital Payments Service

June 7, 2023
Coinbase Reaches $100M Settlement for AML Failure
Crypto News

Alabama Regulator Questions Coinbase about Staking Programme amidst SEC Lawsuit

June 6, 2023
Do Kwon Released on Bail After Request Approved
Crypto News

Do Kwon Released on Bail After Request Approved

June 6, 2023
Litecoin’s Halving Hype and Ethereum’s Breakout Potential
Crypto News

Litecoin’s Halving Hype and Ethereum’s Breakout Potential

June 6, 2023
Next Post
HSBC issues urgent scam warning as woman loses £300,000 – ‘he was very persuasive’ | Personal Finance | Finance

HSBC issues urgent scam warning as woman loses £300,000 - 'he was very persuasive' | Personal Finance | Finance

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

NFTs and Big Brands: Exploring new possibilities

NFTs and Big Brands: Exploring new possibilities

June 3, 2023
FBI urges caution with cryptocurrency scams on the rise – 9News.com KUSA

BBB: Don't fall for a job scam – The Tri-City News

June 3, 2023

Popular Story

    • Contact Us
    • Privacy Policy
    • Terms of Use
    • DMCA

    © 2021 - YourCryptoNews.net - All rights reserved!

    No Result
    View All Result
    • Live Prices
    • Crypto News
      • Altcoins
      • Bitcoin
    • Defi News
    • NFT News
    • Blockchain
    • Regulations
    • Trading
    • Scams

    © 2021 - YourCryptoNews.net - All rights reserved!

    • bitcoinBitcoin (BTC) $ 26,821.00 4.04%
    • ethereumEthereum (ETH) $ 1,876.47 3.27%
    • tetherTether (USDT) $ 0.999940 0.18%
    • bnbBNB (BNB) $ 277.24 0.1%
    • usd-coinUSD Coin (USDC) $ 0.999130 0.25%
    • xrpXRP (XRP) $ 0.528292 3.92%
    • staked-etherLido Staked Ether (STETH) $ 1,874.87 3.17%
    • cardanoCardano (ADA) $ 0.341314 3.29%
    • dogecoinDogecoin (DOGE) $ 0.069513 4.14%
    • solanaSolana (SOL) $ 20.03 0.47%
    • matic-networkPolygon (MATIC) $ 0.803460 3.07%
    • tronTRON (TRX) $ 0.077234 1.8%
    • litecoinLitecoin (LTC) $ 90.24 3.03%
    • polkadotPolkadot (DOT) $ 5.17 1.9%
    • avalanche-2Avalanche (AVAX) $ 14.57 3.08%
    • binance-usdBinance USD (BUSD) $ 0.998749 0.11%
    • shiba-inuShiba Inu (SHIB) $ 0.000008 0.02%
    • daiDai (DAI) $ 0.999518 0.03%
    • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 26,893.00 3.99%
    • uniswapUniswap (UNI) $ 4.73 0.05%
    • leo-tokenLEO Token (LEO) $ 3.52 0.2%
    • chainlinkChainlink (LINK) $ 6.18 1.52%
    • cosmosCosmos Hub (ATOM) $ 10.03 0.09%
    • okbOKB (OKB) $ 45.09 1.11%
    • moneroMonero (XMR) $ 146.64 2.8%
    • the-open-networkToncoin (TON) $ 1.66 0.63%
    • ethereum-classicEthereum Classic (ETC) $ 17.30 1.08%
    • stellarStellar (XLM) $ 0.089036 1.04%
    • bitcoin-cashBitcoin Cash (BCH) $ 113.39 3.54%
    • lido-daoLido DAO (LDO) $ 2.39 8.66%
    • true-usdTrueUSD (TUSD) $ 0.998941 0.26%
    • internet-computerInternet Computer (ICP) $ 4.35 0.15%
    • filecoinFilecoin (FIL) $ 4.31 1.64%
    • quant-networkQuant (QNT) $ 116.28 5.25%
    • aptosAptos (APT) $ 8.09 0.89%
    • crypto-com-chainCronos (CRO) $ 0.059624 1.61%
    • hedera-hashgraphHedera (HBAR) $ 0.049114 0.33%
    • arbitrumArbitrum (ARB) $ 1.17 2.99%
    • nearNEAR Protocol (NEAR) $ 1.49 0.51%
    • vechainVeChain (VET) $ 0.018431 0.61%
    • apecoinApeCoin (APE) $ 2.96 0.06%
    • the-graphThe Graph (GRT) $ 0.116616 0.09%
    • paxos-standardPax Dollar (USDP) $ 0.999060 0.08%
    • fraxFrax (FRAX) $ 0.998563 0.12%
    • eosEOS (EOS) $ 0.883235 4.43%
    • algorandAlgorand (ALGO) $ 0.134112 1.98%
    • the-sandboxThe Sandbox (SAND) $ 0.514658 0.99%
    • rocket-poolRocket Pool (RPL) $ 48.87 3.13%
    • optimismOptimism (OP) $ 1.45 2.59%
    • elrond-erd-2MultiversX (EGLD) $ 36.17 1.15%