Daily BNBETH Update
The major trading pairs are all looking very vague at the moment with trading slowing to a crawl. I'm not trusting most of the indicators as the volume is too low for them to have any meaning. BNB has been trending up against ETH (all be it weakly) since the end of October and at this point still is. Recent price movement has brought it back down to the trend line where it is currently looking for support. With such low volume being traded it's hard to say what will be the likely move from here, but until we see a break of the trend we must assume that it's still in place. We should see a definitive move in the next day, be that a break of the trend or a bounce off support.
I'm holding BNB and will continue to do so until that trend line breaks. On a more fundamental level, BNB is a smaller market cap and so it's more likely we see larger moves up and down than we see in ETH. If we see a continued recovery in the wider market, BNB should continue to outperform ETH.
I'm holding BNB and will continue to do so until that trend line breaks. On a more fundamental level, BNB is a smaller market cap and so it's more likely we see larger moves up and down than we see in ETH. If we see a continued recovery in the wider market, BNB should continue to outperform ETH.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.