⚓️ The official token of the #Binance exchange, #BNB, is progressing within a clearly defined parallel channel on the weekly chart. This channel indicates that the price is balancing between upper and lower resistance levels. If the formation remains intact, the levels marked by yellow lines can be followed as significant resistance and support points. Technically, the lower boundary of the channel provides strong, while the upper boundary stands out as a resistance zone where selling pressure may intensify.
✍️ BNB offers various utilities within the Binance ecosystem, such as discounts on trading fees, participation in Launchpad projects, and use in DeFi and NFT sectors. This supports long-term demand for the token. However, market conditions, global crypto regulations, and developments related to Binance should be closely monitored as factors that can influence BNB’s price.
In conclusion, BNB’s movement within the parallel channel should be followed technically; a sustained break below or above the channel boundaries can provide important signals regarding trend direction. Investment decisions should be made based on personal analysis and risk management.
‼️ This is not investment advice.
