Linear Finance explodes 145% following LINA listing on Binance

Binance lists Linear Finance, expanding its exposure in the cryptocurrency market.
LINA goes ballistic following the listing and achieving an all-time high of $0.29.
A correction is likely to come into the picture if the immediate resistance at $0.29 remains intact.

The Malta-based Binance exchange has announced the addition of Linear Finance to its list of supported trading instruments. According to the exchange, support will be available in the Innovation Zone.

Linear Finance deposit live on Binance

Binance is introducing LINA on a Launchpad subscription format. Linear users will enjoy a 30% discount when purchasing LINA using Binance Coin (BNB) before the trading begins. This subscription had been scheduled to begin “shortly at 2021-03-18 5:00 AM (UTC) and will be open for 4 hours.”

Linear trading will take place using three pairs; LINA/BTC and LINA/BUSDm, and LINA/USDT. The actual trading commenced at “2021-03-18 12:00 PM (UTC).” The news on the listing was received well by the community, which explains the ballistic price action.

Linear faces retreat after gigantic upswing

Linear Finance is trading at $0.28after rising by more than 145% over the last 24 hours. Most of the accrued gains took place after the crypto was listed on Binance. The Launchpad subscription is likely to have encouraged most traders to buy more before the trading kicked off, adding weight to the tailwind

The 4-hour chart highlights a recently formed ascending triangle. The breakout from the pattern also bolstered the token upwards. However, a correction is most likely to take precedence as the listing craze cools off. Therefore, higher support must be established to ensure the upswing continues.

LINA/USD 4-hour chart

Looking at the other side of the picture

On the upside, trading the recent high will leave open-air as the price enters the discovery mode. On the upside, eyes are glued on $0.3 with the Moving Average Convergence (MACD) reinforcing the bulls’ influence.

Share: Cryptos feed

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.