The press time value of BNB marked a two-year high as the coin had experienced the thick and thin of the outgoing bear market. One reason for this forecast is the altcoin’s liquidation levels.As of this writing, BNB’s liquidation level showed that the price could rise to $502.76 soon. If the price hits this level, shorts might experience a high level of liquidation.
Therefore, it might not be a good trading decision to open a short BNB position— especially one with high leverage. For the uninitiated, shorts are traders who bet on a price decline and intend to profit from it.The chart above also considered the Cumulative Liquidation Level Delta . At press time, the CLLD was positive. From a price action point, this positive reading could fuel a bearish bias.
At press time, the +DMI was 33.63 while the -DMI was 13.29. The difference in these indicators underscored a large As of this writing, the ADX was 51.24. Having a reading higher than 25 implies that BNB has a strong directional movement.