The $300 support level has continued to hold for Binance Coin (BNB) despite all the updates about global regulators scrutinizing its activities and its subsidiaries, such as Binance.US.
SEC, NYDFS and NY Attorney General Oppose Binance.US’ Acquisition of Voyager Assets
Earlier this week, the United States Securities Commission, the New York Department for Financial Services (NYDFS) and the New York Attorney General (NYAG) opposed plans by Binance.US to buy Vogager’s assets for $1 billion.
The SEC filing stated that the regulatory agency was ‘formally investigating whether the Debtors [Voyager] and others violated the antifraud, registration, and other provisions of the federal securities law.’ It added that the Binance.US/Voyager deal involved transactions that might violate the 1933 Securities Act.
The NYFDS’ filing against the purchase of Voyager’s assets stated that the company illegally operated a virtual assets business in the state without a license. Now, its assets were being sold to another entity yet to be registered to do business in New York.
The NYAG’s filing against the buyout is a joinder to the NYFDS objection.
Binance Coin (BNB) Remains in Bullish Territory
Despite the above developments, the one-day BNB/USDT chart below, courtesy of Tradingview.com, shows that Binance Coin remains in bullish territory above the 50-day (white), 100-day (yellow), 200-day (green) and 200-week (red) moving averages. Binance Coin remains within that parallel channel between the $337 resistance and $300 support.
Its daily MFI (green) hints at an oversold scenario, but the one-day MACD and RSI (red) indicate that there is a possibility for more selling. Consequently, $300 might be retested between today, the weekly close on Sunday and the monthly close on Tuesday.
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