BNB: Resilience Continued?
I almost didn't write this because I thought saying too much might put a hex on BNB. I've consistently used the 21- and 55-day EMAs to determine the trend's direction. The best example of this is SOL. When SOL's price fell below the 55-day EMA, we saw a dramatic fall in price. However, we haven't seen the same with BNB. BNB is one of the least talked about and most resilient cryptos in recent times.
I have no idea why no one is saying anything about BNB, but its price movement shows its strength. This strength will continue as long as the price remains above the 55-day EMA. In other words, the 55-day EMA is strong support. Investors/traders can hold their positions as long as this is the case. Can things suddenly change in the market? Yes, they can. Nevertheless, you have an indicator you can watch closely.
I have been trying to figure out why BNB is so resilient. If anyone knows, please enlighten me; otherwise, your guess is as good as mine.
