The weekend, as far as anyone could tell, had begun. Apparently, the market was “growing,” which, given its history, felt less like progress and more like a brief respite before the inevitable heat death of the universe. CoinMarketCap says so, anyway. They have charts. Charts are important. Or are they?
BNB/USD
Binance Coin (BNB) has, against all reasonable expectations, managed a 1.84% increase in value over the last 24 hours. A truly astonishing feat, considering the sheer, baffling complexity of… well, everything. 🎉
However – and there’s always a ‘however’, isn’t there? – the hourly chart is displaying a disturbing level of “bearishness.” It’s like the chart itself is having a profoundly depressing day. The price bounced off a local resistance at $929.33, which is a perfectly good number, as are all numbers, really. But it’s going down. Naturally.
Should the support at $923.64 crumble (and supports have a regrettable habit of crumbling), expect a further descent, possibly to the dizzying depths of $920 by tomorrow. One can only hope the inhabitants of $920 are prepared.
On a slightly more optimistic note (because someone had to write it), BNB briefly attained a new all-time high of $929.90. A fleeting moment of glory in a vast, indifferent cosmos. If the buyers can manage to cling to their initiative – and let’s be honest, initiative is overrated – and the daily bar closes near that peak, the upward trajectory may continue. But don’t hold your breath. Or your BNB. 🤷
From a midterm perspective (which, let’s face it, is all any of us are really capable of perceiving), the bulls seem to be… in charge. Though “control” is a strong word. More like “mildly influencing.” If this state of affairs persists until the end of the week (a big ‘if’, obviously), we might witness a testing of the $1,000 mark by month’s end. Which will be lovely. Or terrifying. It’s really a toss-up. 🪙
As of this very moment – a moment which has already ceased to exist by the time you read this – BNB is trading at $924.30. Which, statistically speaking, is probably what it will be tomorrow, too. 🙃
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2025-09-13 12:55