BNB Is in Massive 27% Rally, and It's Not Stopping
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Since Elon Musk's Twitter takeover, Binance's BNB has been on a steady uptrend despite the problematic nature of the cryptocurrency market. Since Binance's CZ directly participated in the Twitter takeover and provided funds for Musk to close the deal, investors believe that implementation of digital technologies on the platform is just a matter of time.
Some experts assumed that Binance will become some sort of provider between Twitter and the crypto world. With the implementation of the new verification system, which would cost $8 a month, cryptocurrency payments may, in fact, become a payment option. In cases where Binance acts as a provider, the exchange will potentially receive millions in revenue in the first months after possible implementation. From a technical perspective, BNB has broken all the important technical resistance levels and even August's top at $335. The next resistance for BNB sits at approximately $400 and acts as psychological resistance. The next technical resistance sits at $423 and correlates with the breakdown point for BNB. On April 5, Binance's cryptocurrency plunged below the $400 threshold, marking the beginning of an accelerated downtrend that put the asset at the level it was trading at before the swift recovery.
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