Binance Keeps Surging Above $ 100, As the Crypto Craze Continues

Binance continues to mage enormous gains as it breaks above $ 100 today

Skerdian Meta•Tuesday, February 9, 2021•1 min read

Moving averages can't even catch up with the price any more

The “Gold Rush” for cryptocurrencies continues for several months now, after it started in November last year. This is the second “Gold Rush” after the first one we saw at the end of 2017. But, this one seems different, since it is continuing in the following year, while in 2018 we saw a big bearish reversal.

That’s because digital currencies have turned into safe havens now, with everything that’s been going on around the globe. Binance BNB started the rally quite late and the gains weren’t too big, compared to the majority of the crypto market which was absolutely surging, with BITCOIN leading the way above $ 40,000, by early january, while Binance only increased around $ 20, or less than 100% of its value.

But, the latest crypto craze is seeing Binance surge higher, breaking above $ 100 today. I was updating the Q1 2021 BNB forecast for this crypto last night, but a kept revising the numbers since Binance kept making new highs.

Now it finally moved above $1 00, which is a milestone for this digital currency and it doesn’t seem like it wants to give anything back at the moment. So, buyers remain in total control and we will try to get long on this pair, but I am watching the 15 minute chart for a pullback and perhaps buy Binance once I see one.

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Skerdian Meta

Lead Analyst

Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.