The Binance Exchange is said to have chosen Ireland as the primary candidate city to host its physical headquarters, in a move which could impact new Binance Coin price predictions.
A report credited to the Irish Independent says that the company has set up shop in Ireland with three companies, including Binance Exchange (Ie), which seems to bolster recent statements by Binance CEO Changpeng Zhao that identitied Ireland as the potential candidate to host its HQ.
The news did not significantly sway investor sentiment on the day, which remains negative as more traders take profit from the company’s recent gains following the PORTO Launchpad project.
The BNB/USDT pair is down 1.39% as of writing.
The puhsback from the previous neckline of the completed double top pattern has continued into Wednesday, with bears extending the drop closer to the low of 10 November/21 November. A continued descent brings the BNB/USDT to the 558.1 support, with 511.3 serving as an additional pivot if the price continues its descent.
On the flip side, only a break of the neckline would re-establish a recovery move, targeting 634.3 in the process. An advance beyond this area brings the recent high at 669.6 into the mix, with price needing to exceed this level to establish new highs on BNB/USDT.
Follow Eno on Twitter.
This post was last modified on Nov 24, 2021, 14:43 GMT 14:43