BNB Price on the edge of piercing after the latest token burns

The price of binance coins formed a symmetrical triangular pattern as its stand amount is growing, and after the network was performed by a quarterly combustion.

Binance coins (Bnb) It was traded from $ 582, several points above her lowest level this month. His performance has led its market caps to over $ 84 billion.

The top news of the BNB was that the network was executed by the quarterly combustion of the combustion. Of April. He burned 157 million tokens, who are currently valued at over a billion dollars. This Token Burn is usually based on the BNB price and the number of blocks produced during the quarter.

Groma token is part of a project approach that will increase the value of the BNB. According to her tokenomika The document, these quarterly burns will continue until the number of circulating tokens falls from the present 140 million to 100 million.

Limiting tokens increases the price of tokens by reducing the number of coins in circulation. It differs from unlocking tokens, which increase the supply circulating and diluted existing owners.

The BNB price also waved how the data revealed that his inflow was growing. Data from Stations It shows that the net flow of trails in BNB jumped over $ 16 million in the last 30 days. It is a sign that investors believe that the token will spend good. BNB has a 4% reward cattle.

Technical analysis price BNB Price

The price of bynance coins withdrew in recent months, falling from high $ 800 to $ 580. It remains below the descending trendline that connects the most swings of 4. December.

The incoming trend of coins also supports a 50-day average movement, a sign that bears control. The BNB has formed a symmetrical triangular sample with two lines to converge.

The BNB price also formed a triple sample of about $ 520. It currently floats at the level of 38.2% of the fibination. Therefore, the coin will probably experience a Bulletle interruption in the next few days or weeks. The sheath will be confirmed if it moves above the 50-day moving average and upper side of the descending triangle.

A successful interruption could push him until December 795. USD by 37% from the current level. However, the drop below the triple bottom to $ 520 will not undo the Bullish look.