Daily BNBETH Update

23 Nov 2021

BNB made a high against ETH on the 12th of April 2021 and then trended down until August. Since then there have been three attempts to break to new lows (yellow circles) that were unsuccessful. A consolidation range has followed but more recently we are seeing BNB quietly and discretely building strength over ETH. We are seeing a slowly rising RSI and can now see a higher high and higher low....the beginnings of an uptrend maybe? We'll have to wait and see where this goes. Technically we won't be able to get excited until there is a break of the consolidation zone and I have that level at 0.16ETH. If this does happen it's very likely we will see price head towards the 0.29 ETH level that was the previous high.