A closely followed crypto analyst says that BNB, the native token for the BNB Chain ecosystem, is one of the most solid high-cap plays for the current market correction.
Pseudonymous trader Kaleo tells his 630,000 followers on the social media platform X that he thinks BNB is gearing up for a breakout.
He shares a BNB versus Bitcoin (BNB/BTC) chart suggesting that BNB is set to start outperforming the crypto king in the coming weeks.
“Still believe BNB is one of the best high cap buys out there right now on this dip/retest.”
Looking at the trader’s chart, he seems to predict that BNB/BTC will print a high of 0.0115 BTC ($786.98).
At time of writing, BNB is trading at 0.008466 BTC ($579).
Kaleo is also bullish on the layer-1 crypto project Injective (INJ).
According to the analyst, INJ is getting ready to print new all-time highs after knocking on the resistance level at $45.
“I’m still bullish on INJ here.
I’ll be very surprised if this breakout/retest doesn’t send back into price discovery.”
Backing up his bullish stance on Injective, Kaleo says that the INJ/BTC chart indicates a critical resistance near 0.0004 BTC ($27.37) has been flipped into support and that a big move upward is now likely.
“The INJ/BTC ratio chart is cleaner, gives me more conviction.
High time frame breakout, support/resistance flip… accumulate above support… then gigasend should be next.”
Looking at the trader’s chart, he seems to predict that INJ/BTC will soar to 0.0035 BTC ($239).
At time of writing, INJ is trading for $42.56.
More Stories
Upcoming Bitcoin halving ‘closely resembles’ last halving cycle: Coinbase
Dogecoin (DOGE) Payments Soon? Elon Musk’s X Secures Three New Licenses in Key US States
Espresso Systems Raises $28M in Fresh Funds, Led By A16z Crypto