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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.
coinpaper.com
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