Firstly, as of October 8th, an early holder successfully sold their $1.48 million BNB to Coin An, and it is reported that this transaction resulted in the investor receiving a profit of up to $54 million
Firstly, as of October 8th, an early holder successfully sold their $1.48 million BNB to Coin An, and it is reported that this transaction resulted in the investor receiving a profit of up to $54 million. This investor has been holding BNB since 2018 and earned $56 million on his first selling. Although this sale did not have a significant impact on BNB prices, as small retail investors, we still need to be cautious.
Although the price of BNB has only dropped by 0.89% in the past 24 hours, reaching $211.75, technical indicators indicate that retail investors considering acquiring BNB may carry certain risks.
By observing the 4-hour graph, the Bollinger line shows that the volatility of BNB is relatively stable. This means that BNB prices are unlikely to experience significant fluctuations in the short term. In addition, the upper and lower limits of BNB prices did not touch $211, indicating that there was neither obvious overbought nor oversold in the market. Therefore, retail investors may need to wait for a certain degree of market volatility if they want to profit from BNB.
Another indicator reflecting the market's wait-and-see attitude is the convergence differentiation of moving averages (MACD). At present, the MACD is 0.1, indicating a bullish trend in BNB prices. However, the 12 day (blue) and 26 day (orange) EMAs are located below the zero histogram, and the distance between them is very small. This means that market sentiment is relatively conservative and may wait for significant price changes before making a decision.
Let's focus on the volume of open positions. For BNB, open positions reveal that most investors are taking a wait-and-see attitude and may wait for significant price fluctuations before making a decision. This may suggest that BNB prices may continue to maintain a sideways consolidation trend in the coming days.
For retail investors, treating BNB with caution is a rational move. We need to remain vigilant at all times, closely monitor market changes, and respond promptly.
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