Changpeng Zhao Will Be Released Soon, Will BNB Prices Rise?

Bittime - In the latest development in the cryptocurrency world, Changpeng Zhao, CEO of Binance, will reportedly be released from custody soon. This news certainly raises speculation among investors regarding the potential for an increase in the price of BNB (Binance Coin). In this context, we will also highlight the performance of Helium (HNT), which shows potential for upside.

Impact of Changpeng Zhao's Release on BNB Price

The news of Zhao's release is considered a positive signal for the cryptocurrency market, especially for BNB. As one of the most traded tokens on the Binance platform, BNB has the potential to get a significant boost as investor confidence in the Binance ecosystem recovers. If Zhao returns to the helm, many believe that new strategies and innovations could strengthen Binance's position in the market.

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Helium Eyes $11: Trader Behavior Key to HNT

Meanwhile, Helium (HNT) is also showing promising signs in the market. HNT has recorded some record high gains, although it is currently facing significant resistance hurdles. At the time of writing, HNT is trading within an ascending triangle pattern, indicating potential for a breakout towards higher levels.

Although HNT struggled to get past the resistance level at $7,895, the current price pullback is understandable in this pattern. A pullback like this often provides an opportunity for price to return to a support zone, which can gather momentum for a larger rally in the future.

HNT Market Strength Indicator

The bullish presence in the HNT market is supported by several key indicators. The Relative Strength Index (RSI) shows a value of 50.65, which indicates that HNT is in a favorable position to rally. However, the RSI is also showing a downward trend, indicating a possible short-term decline before the expected upward move.

Additionally, the Money Flow Index shows active accumulation for HNT, adding to optimism among traders. With trading volume increasing by 136.5%, HNT has become a favorite among traders, reflecting strong buying interest.

Conclusion

With the potential release of Changpeng Zhao, the cryptocurrency market, especially BNB, could experience significant changes. On the other hand, Helium (HNT) shows the potential to continue rising, depending on trader behavior and market indicators. This situation emphasizes that investors need to continue to monitor the latest developments to make wise investment decisions.

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