Binance Launchpad Announces New Project, BNB Breaks $15.50
Binance Launchpad will conduct its second crowdfunding campaign of 2020 with the Cartesi Project.
In an earlier analysis, $15.50 had proved a difficult ceiling to break for Binance Coin (BNB).
BNB has since broken this resistance and looks set to attempt erasing all losses of March.
Opening the twitter page belonging to the Binance crypto exchange always has a level of excitement to it. Every day, there is always a new development or an announcement further stating the case that Binance Coin (BNB) could be one of the best assets to consider as a long term hold.
Cartesi: Second Launchpad Project of 2020
Just yesterday, April 13th, the team announced Cartesi as the second project of 2020 on their LaunchPad platform. The token sale will be carried out on the 21st of this month with the standard ticket claim by holders of BNB. The exchange further explained it will be taking hourly snapshots between the 14th of April (00:00 UTC) and 21st of April (00:00 UTC) to determine the eligibility of BNB holders. The team also provided the following details about the Token sale:
Taken name: Cartesi (CTSI)
Sale price: 1 CTSI = $0.015 (price in BNB)
Allocation of $200 per winning ticket
Maximum of 10 tickets per participant
A complete description of the terms of the token sale can be found here.
What is Cartesi?
Cartesi has a vision of building an operating system for Dapps. The projects enables complex computations to run in a Linux environment, outside of the blockchain without compromising decentralization. By doing so, it will make Dapps more powerful, cost-effective, easier to create and portable.
Binance Coin (BNB) Breaks the $15.50 Resistance
In our previous analyses of Binance Coin (BNB), we have correctly foreshadowed that the coin would break both the $14 and $15.50 resistance levels. Initially, we were inclined to declare BNB in bear territory but we however flipped our stance after the team at Binance kept announcing new developments almost daily. The most recent development being the acquisition of Coinmarketcap and the launch of Bitcoin Options on the platform.
Further revisiting our 6-hour BNB/USDT chart, we observe the following:
Its current price of $15.60 is above the 50 (white), 100 (yellow) and 200 (green) moving average. This further supports the bullish narrative for BNB.
The next resistance is at the 0.618 Fibonacci retracement around $15.95.
Other resistances include $16.33 and $17.52.
The 6-Hour MACD has crossed in a bullish manner above the baseline.
The 6-Hour MFI is at 80 but with the token sale 7 days away, it could go higher due to the constant demand to hold BNB before the token sale.
BNB look set to erase losses experienced in the Coronavirus crash of mid-March.
(Feature image courtesy of Unsplash.)
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