Binance recently broke to the upside from a descending triangle formation to signal that further gains are te the cards. Price retreated upon hitting the 0.002 level but it seems to be completing its correction.
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If so, Binance could make its way back up to the Fibonacci extension levels spil upside targets. The 38.2% extension is located at 0.00182 then the 50% extension is near 0.0019. The 61.8% extension is near the sway high at 0.00195 and the 78.6% level is past the 0.002 treat at 0.00204. The utter extension is at 0.002159.
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The 100 SMA is above the longer-term 200 SMA to signal that the path of least resistance is to the upside, which means that the rally is more likely to resume than to switch roles. The 100 SMA is also near the pullback and could act spil dynamic support ter another dip.
RSI seems to be heading lower but is switching its mind halfway to turn back up again, drawing buyers back te. Stochastic is also pointing up to reflect buying pressure but is nearing overbought conditions to reflect exhaustion. Te that case, Binance might still make a deeper correction to the cracked triangle resistance near the 200 SMA dynamic inflection point.
Bitcoin has recovered te latest sessions thanks to a terugwedstrijd ter risk-taking. However, near-term technical resistance levels proceed to hold and a continuation of the druppel is still a possibility.
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Binance could be poised to take advantage of this spil the exchange recently doubled its referral verzekeringspremie. This altcoin is used by participants to cut their fees ter half when trading te and out of altcoins on the toneelpodium. This also conducts regular coin burns and increases the verhoging stability.
Te an official statement, the Binance Team announced:
Binance will dual referral commission prizes to 40% for all accounts that hold 500 BNB or more, beginning from /05/Nineteen 0:00 AM (UTC). Each user’s commission rate will then be adjusted at 0:00 AM (UTC) each day based on their BNB holdings. The commission rate for all other users will remain at 20%.
Note: The daily snapshot of BNB holdings will not include any BNB locked in-order or pending for withdrawal/deposit.