What the BNB breakout means for the bLEO:BNB LP on Cub Finance

A look at what BNB breaking out of resistance will do for the bLEO:BNB LP on Cub Finance.

Yesterday’s price action certainly caught my attention and with the coin’s importance for CUB farmers, no doubt I’m not the only one.

Let’s take a look at the BNB price action and then I’ll offer my 2c on why I don’t think you can go wrong continuing to add to the bLEO:BNB LP.

BNB price breaks out of resistance

Well, that certainly didn’t take long.

After looking at the BNB price in last week’s LEO and Binance Coin match made in heaven blog, the breakout of resistance came yesterday.

Here’s what we were talking about:

But how long is the price of BNB going to stay capped by this resistance zone?

Once it goes, you can see that the next stop is resistance at BNB’s previous all time high and then just like everything else, fresh air above.

Price discovery.

Once this initial resistance zone breaks, we’re likely to see price rush higher to that next level.

And that’s exactly what we’ve seen happen.

Just take a look at the following updated BNB chart from TradingView:

You can see that price has broken out of the resistance zone that had kept it capped for so long.

Immediately, price surged higher and all but tagged the next level of resistance at the previous all time high.

The type of surging, bullish price action that I’m expecting to see repeated once price breaks that level and enters price discovery.

Adding my 2c to what’s next for the bLEO:BNB LP

Shifting our focus back to the bLEO:BNB LP, my opinion of this bullish price action we’re seeing in BNB is that it’s an extremely good thing.

Sure right now bLEO is lagging behind, but we’re almost guaranteed to see the price of LEO benefit from the value being built by the upcoming CUB IDOs and PolyCUB launch.

Not to mention the fact that LEO’s home on the Hive blockchain means that it will also be naturally dragged up by the price of HIVE.

Which thanks to Splinterlands alone is due for a major repricing event.

Honestly, I can’t believe it hasn’t already happened, but am trying to position myself to take advantage when it does.

As I’ve said before, I just can’t see a scenario where BNB makes a new high and HIVE doesn’t follow.

Thus dragging LEO up along with it.

No matter which side of the bLEO:BNB LP you’re more bullish on, I don’t think you should worry too much about impermanent loss.

The pool is going to rebalance itself as time ticks by.

Just keep pooling a portion of your LEO and stacking or reinvesting those CUB that you’re earning on Cub Finance.

The LeoFinance ecosystem is a money printer.

I have no doubts about this.

Best of probabilities to you.

Direct from the desk of Dane Williams.

Why not leave a comment and share your thoughts on LEO and Binance Coin (BNB) within the comments section below? All comments that add something to the discussion will be upvoted.

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