Binance native token (BNB/USD) nears a “Golden Cross”

Binance native token (BNB/USD) price has hit a new level. At $352, BNB is trading at the highest level since May 09, 2022. That comes as numerous developments continue to trickle in for the world’s largest crypto exchange. From a brief technical outlook, the native token is about to initiate a “golden cross,” and the next move could be unstoppable.

As you already know, Binance continues to be dragged into Twitter’s acquisition developments. Binance CEO Changpeng Zhao is, nonetheless, not keeping it under the sheets, going by his latest comments. CZ said, on Wednesday, that he was ready to join Twitter’s board on Elon Musk’s invitation. Twitter hasn’t invited him yet, but with the now cordial relations with Musk, it remains a possibility. That would, of course, strengthen speculations that BNB will be core to Twitter’s payment methods.

Binance also maintains an eye on growth, and investors could look and see a lot of utility in the native token. As part of an expansion spree, CZ says he is open to investing in banks or even full acquisition. According to CZ, collaboration with banks is a good way to attract new users.

The latest insights have seen BNB continue to soar higher. As of press time, BNB had made an intra-day gain of more than 8%. The token has added 20% in the past week. A key breakout confirms a bullish trend. 

BNB’s 50-day MA eyes a crossover above the 200-day MA for a “golden cross”

Source – TradingView

On the technical side, BNB initiated a breakout above $330 crucial resistance. The token trades near the next resistance at $360. However, a potential “golden cross” could be a strong bullish trigger to take BNB to above $400.

A “golden cross” occurs when the 50-day MA crosses above the 200-day MA. It earmarks the start of long-lasting bullish trends. Looking at the daily chart, the 50-day MA is closing the gap with the 200-day MA. A golden cross could be confirmed soon that will sound bull alarms and set BNB to a lasting recovery.

Should you buy BNB?

BNB remains attractive after the recent breakout. Investors should buy on a retracement as the token is nearing a resistance zone.

Where to buy BNB

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in.

It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest.

eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy BNB with eToro today

Disclaimer

Bitpanda

Bitpanda is a digital assets brokerage company.

It has grown to become one of the most popular crypto exchanges in the world, as it offers a user-friendly interface, it has developed a bunch of great features and it offers a variety of coins to invest in.

Bitpanda has also built a reputation for security, and it has never experienced a hack of its data before.

Buy BNB with Bitpanda today