This time, BNX is still publicly calling for a wave.
Currently, we have received rumors that there will be unlocking in the next one or two days at the end of the month. Of course, the news has not been confirmed, but at present, the market has broken through the hourly downward trend.
The price has temporarily stabilized at the weekly MA7 position, and the next support comes from the daily MA50, which is changed to around 0.97 as shown in the figure. In the short term, if the current position falls below, pay attention to the stabilization near 0.97 below. If it falls again, then in the short term, we will be more conservative in choosing a buying position.
The unlocking issue is not yet certain, but let's make a record first. According to the current Binance token information record:
The total amount of BNX is 2.1 billion, 368 million are currently in circulation, and the current market value is 378 million. Let's make a record and we will check the data on the 1st of the month.
If there is really a token unlock, then according to the current point, the recent support is a bit dangerous. Once it falls below the MA50 support, we can conservatively wait at the lower line of the 0.8 monthly Bollinger band. Once it falls below, this may be a more reasonable position for building a position in my opinion.
Please note that my expectation is to maintain a certain period of time, and temporarily do not consider the premise of the overall market decline. If you try to buy and take off directly, please be cautious.
