BNB Still Undervalued
Binance coin (BNB) is the native currency of one of the world’s biggest crypto exchanges: Binance. BNB is one of the most capitalized coins on the market and it has a fixed total supply of 176.406.561 BNB.
Short History Lesson
BNB is one of the best performing coins over time, as it outperformed Bitcoin by about 4,800% since its inception in July 2017. Most altcoins hit their all-time highs in January 2018 which was the biggest altcoin season up to date. However, this was not the case for BNB, which continued growing by 85%, hitting highs of 43$ in June 2019.
The Current Situation
BNB is now situated at the minor $23 resistance and has 15% to cover before reaching its previous 2020 high at just over $27. Apart from the DeFi related coins, very few coins surpassed their January 2020 highs this year. However, BNB is a coin that has regularly outperformed BTC and is therefore likely to do so again.
Looking ahead: The next resistance level at $27 is also the BNB’s high during the biggest altcoin bull run in January 2018, and it is, therefore, a very significant level. If this resistance is broken, BNB may become very bullish following the breakthrough. Even if BNB doesn’t break this level, it should at least reach it in the next few weeks if it is to continue its tradition of outperforming Bitcoin.
Short History Lesson
BNB is one of the best performing coins over time, as it outperformed Bitcoin by about 4,800% since its inception in July 2017. Most altcoins hit their all-time highs in January 2018 which was the biggest altcoin season up to date. However, this was not the case for BNB, which continued growing by 85%, hitting highs of 43$ in June 2019.
The Current Situation
BNB is now situated at the minor $23 resistance and has 15% to cover before reaching its previous 2020 high at just over $27. Apart from the DeFi related coins, very few coins surpassed their January 2020 highs this year. However, BNB is a coin that has regularly outperformed BTC and is therefore likely to do so again.
Looking ahead: The next resistance level at $27 is also the BNB’s high during the biggest altcoin bull run in January 2018, and it is, therefore, a very significant level. If this resistance is broken, BNB may become very bullish following the breakthrough. Even if BNB doesn’t break this level, it should at least reach it in the next few weeks if it is to continue its tradition of outperforming Bitcoin.
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