Binance Coin Price Dips: BNB Holders Rush To Lunex Presale To Hedge Their Long Positions

While the broader market witnessed a notable upward movement, Binance Coin (BNB) experienced a decline in value. Per CoinMarketCap data, BNB price has fallen below the $625 mark due to broader market trends, where fluctuations are common and are impacted by regulatory developments and macroeconomic conditions.

This recent drop has sparked speculation on the token’s prospects as BNB holders flock to Lunex’s presale, seeking to hedge their long positions. Notably, Lunex Network (LNEX) has witnessed considerable interest due to its aggregation protocol and a reward system designed to offer real passive income.

Presenting a unique yet convincing substitute for popular DEXs like Uniswap and PancakeSwap, Lunex Network promises only the best experience to its users. Unlike conventional DEXs dependent on automated market makers, this project uses smart contracts to enhance openness and simplify transactions.

Without users needing to connect third-party wallets like Trust Wallet and Meta Mask, Lunex Network aims to build trust among users while eliminating security concerns related to external wallet connections. The project, therefore, sets itself as a top participant within the DeFi ecosystem, offering traders a safer yet user-friendly experience.

With a presale price of $0.0026, the LNEX token has surged by over 116%. This surging momentum is also set to continue as the token eyes the $1 mark, which is possible given the Lunex Network’s unique features, which allow traders to access over 50K assets and more than 40 blockchains.

Binance Coin has been hovering around the $600 and $616 levels, paring off some of its gains in the past week. The token has formed a rare cup and handle pattern on its weekly time frame. This pattern is often interpreted as a rounded bottom and some pullback on the upper side. The pattern began in November 2021 when the altcoin rallied towards the $665 level.

However, it consolidated to the $200 level in 2022 and 2023. The price of BNB rebounded and retested its 2021 high, finishing the formation of the cup. Notably, the BNB price has formed a handle section and a doji pattern, which explains why the token rebounded to $665. Therefore, if the token bounces above the upper cup, it could send its price towards the $1200.

This level is established by measuring the distance between the lower and upper sides of the cup. In typical scenarios, an asset can break out and rise a similar distance from the upper side of the cup. BNB coin has a positive technical outlook, including its price remaining above the 59-week moving average, and is positioned at the solid pivot release of the Murrey Math Lines tool.

Using the Murrey Math Lines tool, the BNB token could target the $875 level, representing a 42% surge from the current level. Lunex Network could offer more gains as it is expected to surge by 1800% by the end of its presale and an additional 100x post-launch.

You can find more information about Lunex Network (LNEX) here:

• Website: https://lunexnetwork.com
• Socials: https://linktr.ee/lunexnetwork

Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.

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