Binance Coin Price Analysis: Featured A New Decentralized NFT Platform From BNB

  • Binance coin price action in a positive trend by 6.20% on an intraday trading session
  • The 24-hour volume in BNB is at $2.29 Billion
  • The BNB/BTC pair was trading at 0.0091217 BTC with a loss of 2.8%

The Daily technical chart of the Binance coin price movement is showing minor signs of strength. According to pivot levels, the BNB’s significant support level is $235. Whereas if it proceeds up, the initial resistance level to watch is $420. Moreover, the chart shows a Doji candle meaning both bulls and bears failed to neutral momentum.

According to the RSI indicator (BEARISH) – a value of 44 gives a sell call. Investors may observe a small declining line in the index. It may become neutral in the upcoming trading sessions. 

The Moving Average Exponential (EMA), consisting of 200-EMA, acts as unbroken support in the asset price movement. Investors may witness the price struggling to sustain above the red line, so until the price rests above the EMA, it will assure a positive BNB trend.

The On Balance Volume of (541.156M) is focusing on the 24-hour trading volume in BNB. Moderate volume is being directed in BNB to sustain the bullish region.

Binance Coin (BNB) Recently Announced Its New NFT Marketplace “Featured”  

Binance coin has reported that it will launch “a non-custodial, on-chain platform to work with the full life cycle of NFTs for makers, brands and their fans.” The new platform is designated “Featured by Binance.” 

As per the CEO of Featured by Binance, at launch, the platform will focus on assisting Binance’s with marking accomplices “dispatch NFT resources with solid stories, a commercial center to exchange those resources, and maker tools to mint, sell and grandstand their NFT manifestations.” 

Here is the thing that Binance needs to say about the present status of the NFT market: 

“It’s fascinating to see that the promotion was driven in equal parts by makers/fans accepting this novel innovation, and on the other side, the traditional press who is urgently attempting to comprehend why anybody would spend significant cash on effectively replicable advanced resources. 

“Regardless, the NFT publicity crested toward the beginning of May 2021 and has since settled down to less foamy levels. And still, after all that, NFT exchange volumes are a significant degree higher than previously, when barely anyone understood what NFTs were. I’ll take 10x development in 90 days quickly.

“We accept that the following development of advanced merchandise will be on the blockchain and NFTs are the initial move towards that change.”

Resistance: $430

Support: $230

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