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Tag: BNB

  • Binance Coin (BNB) – What can we Expect?

    Binance coin known as BNB is one of the coins which has the most volume and has a very good potential in the coming time. The coin has been pretty much following the BTC movement, so a pretty same view would be for BTCUSDT.

    Starting from the higher time frame which is Monthly, the price has formed a double top. Right now the price is very much close to the Neckline of it and it has been rejected very often from that. Now talking about the mentality, many would be waiting for a break of that which would induce sellers in the market and price might very likely manipulate them. So from this perspective, there is a good chance that the price might push further down and do a stop hunt of the neckline.

    Moving down to the Weekly Time Frame, the price is showing a Wyckoff ReAccumulation schematic. The price at the moment seems to be unfolding a Spring or maybe sooner after grabbing liquidity. So following this perspective, it does have a little bit of potential to the downside, probably around 187$ from where a decent volume can be anticipated. As price needs fuel to move, liquidity is fuel for price. So as soon price grabs that, there shall/could be a good momentum.

    Moving down to the Daily Time Frame, the price has just recently tapped into the Fair Value Gap and showed a good bearish momentum. Overall talking about the macrostructure and momentum, both are bearish. The price hasn’t shown any structure shift to the upside, nor a good bullish momentum. So considering this, it’s reasonable to go with the flow.

    Talking about the 4 Hour Time Frame, the price is pretty much-showing weakness in sellers. In 4 Hours, the price was breaking structures to the topside, but as soon as it tapped the Daily fair value gap, the price did a change in character and a good bearish momentum emerged unfolding a shift in structure and momentum. Now recently price tapped into a demand zone and there is a possibility that it’ll keep pushing it to the upside for some time. If it drives back in the POI, LTF confirmations will be needed to get in for short positions.

    The invalidation point is above the structural HIGH and the target is around $272.

  • PrimeXBT adds support for Binance Smart Chain (BNB)

    Probably the greatest benefit of the crypto space quickly developing and including new methodologies and arrangements is the number of advancements that occur, empowering clients to pick between a few comparable, yet particularly various arrangements, as per their own requirements. Among these amazingly significant advancements are the different accessible blockchain networks, each with its own benefits and characteristics. Since many undertakings that make their own tokens choose to have them accessible to a few organizations, approaching quite a few of those chains can be incredibly useful for dealers and financial backers — which is precisely the exact thing exchanging stage PrimeXBT comprehends and why it added help for the BNB Smart Chain.

    What is the BNB Smart Chain?

    So, BNB Smart Chain (previously known as Binance Smart Chain) is a smart contract-empowered public blockchain intended to run lined up with Binance Chain, the local blockchain of major crypto trade Binance.

    The chain empowers admittance to another way to deal with decentralized finance (DeFi): as a somewhat quicker option in contrast to Ethereum (ETH), with altogether lower expenses, an incredible decision for designers are searching for improved blockchains. Furthermore, as it is viable with the Ethereum Virtual Machine (EVM), it makes it simpler for the people who have previously worked with Ethereum to relocate to the BNB Smart Chain. The equivalent goes for projects currently live on Ethereum, as you can undoubtedly port them here without re-trying all of your current difficult work.

    For end clients, who may not think often about the designer side of things, BNB Smart Chain offers basic usefulness: an option in contrast to Ethereum and other DeFi chains and conventions. Now and again it’s only simpler to purchase tokens that are local to the BNB Smart Chain, or you got a more ideal arrangement, or the lower expenses appeal to you. No matter what you think, the catchphrase here is the decision. By getting to settle on the decision yourself as opposed to having it made for you with an exchanging stage just supporting one organization, the choice is exclusively in your grasp.

    Albeit the BNB Smart Chain is home to a large number of various tokens, PrimeXBT as an exchanging application is somewhat more restricted in what they can uphold.

  • Binance (BNB) looking to Secure banks, gets License in Dubai

    Binance (BNB) looking to Secure banks, gets License in Dubai

    Binance, the world’s greatest crypto trade by exchange volume (trading volume), is viewing securing banks as well as installment processors in Brazil, as per Binance CEO Changpeng “CZ” Zhao.

    Zhao likewise expressed that the organization is hoping to fortify its 100-man group in Brazil while talking at EthereumRio, an Ethereum people group occasion held in Rio de Janeiro.

    Zhao’s remarks follow Binance’s marking of a Memorandum of Understanding (MoU) on Monday to procure Brazilian protections business Sim; paul Investimentos.

    As indicated by Zhao, the trade expects to team up intimately with controllers and government offices to track down ways of cultivating the improvement of the digital money industry “in a solid and cooperative way.”

    On Monday, Zhao met with controllers and lawmakers in Brazil, including the legislative leader of the Brazilian province of So Paulo, Joo Dória.

    In Brazil, forthcoming regulation would require crypto trades to be appropriately authorized, which would require the foundation of a neighborhood office or the securing of a current administrator.

    Last week, Zhao expressed that Binance means to gain more organizations in non-crypto businesses to widen the allure of advanced resources.

    Binance Granted a License in Dubai

    Binance declared on Wednesday that it has been allowed a permit to direct its operation in Dubai, from which it plans to lead the operation and business.

    The granting of the Virtual Asset License by Dubai’s recently framed Virtual Asset Regulatory Authority (VARA) comes after Binance was allowed a crypto-resource specialist co-op permit by Gulf neighbor Bahrain on Tuesday, the organization’s first such permit from a Gulf Cooperation Council (GCC) country.

    As per the declaration, the digital money organization will likewise layout a blockchain innovation center in the Dubai World Trade Center (DWTC).

    Monetary controllers all over the planet have designated Binance, with some disallowing the stage from taking part in specific exercises and others illuminating clients that it isn’t authorized to work in their purviews.

    As local monetary rivalry warms up, the United Arab Emirates (UAE), the Gulf region’s monetary capital, has been squeezing to foster the virtual resource area and guideline to draw in new types of business.

    Dubai, one of the UAE’s seven emirates, passed its first virtual resource regulation last week and laid out VARA as a controller to manage the area.

    Binance declared in December that it was teaming up with DWTC to lay out a global virtual cash environment in Dubai and to assist with creating virtual resource guidelines.

  • Binance Coin (BNB) – What is the Chart Showing Us?

    Binance Coin (BNB) – What is the Chart Showing Us?

    BNB overall is having a great price action as proper waves either impulse or corrective can be observed. BNB performed really well even with the BTC drop as the momentum with which BNB recently dropped was not too bad. Previously price recovered with momentum and the same can be expected this time as well

    Starting the technical analysis for BNB from the Weekly Time Frame, the price is around the previous low and can be considered in a Discount array that prefers buys only. The price of BNB along the way to the downside started losing momentum, and the last candle is probably going to close as a pin bar which is a reversal pattern at such zones. Now as the price has made a Low, the next move is Bullish Impulse is a formation of Higher High so this gives a bullish bias on Weekly Time Frame.

    BNB - 4H

    Moving down to the Daily Time Frame, as there’s not too much on the Weekly Time Frame, so on Daily, it can be seen that the last low was at $336.5 which recently got stop hunted. Previously after the last low, the price consolidated much which shows that previous bearish momentum is losing its strength. Within that consolidation, the price has formed a double top pattern which shows that there is a lot of liquidity above that pattern which may sooner drive the price upwards. Now in here, the previous day’s candle got severe rejections from the bottom which just took out the liquidity from the previous low and now the price has the necessary fuel needed to push to the upside. So this gives a bullish bias on the Daily Time frame as well for BNB

    Moving down to the last time frame which is the 4 Hour Time Frame, the price of BNB still hasn’t broken structure to the upside. Here there are two scenarios that may unfold for the buy bias. The first one is to wait for structural high to get broken, and on a pullback, the position can be taken. The second is a bit aggressive entry as there is a demand zone above, which may push price downside, and as there is an imbalance below, the price may push from there. Talking about invalidation, if the structural low gets broken, this whole scenario will get violated, and talking about that targets, the first target can be around $417.7 as that is an inefficiency zone

  • Binance Coin (BNB) –  What is the Chart Showing Us?

    Binance Coin (BNB) –  What is the Chart Showing Us?

    At the time of writing, BNB is being traded at the price of $522.21. The price of the coin has decreased by almost 1% in the past 24 hours. The maximum and minimum of the day are around $527.70 and $508.59. The daily trading volume has on the other hand has also decreased by almost 19% in one day. BNB is listed on coinmarketcap at 3rd spot according to market capital and has a market dominance of 3.87%.

    BNB - 1D

    BNB before the crash had achieved its all-time high around the price of $698.21 in March 2021. During the crash, BNB created a bottom and dropped down to $211 in the month of May. Just like many other coins, the coin showed reversal and it was strong enough. BNB eventually went on to create a new neat all-time high around the price of $669 during the month of November.

    BNB has a total supply of around 166M tokens and has all of them in circulation i.ie around 166M. BNB can be traded at a lot of different exchanges such as Huobi, Binance, KuCoin, FTX.

    Technical Analysis – Binance Coin

    BNB has been consolidating for a while. Just like many other coins, BNB has been range bound and we have seen no moves from the coin whatsoever. The price had tapped into the order block two/ three times and we have seen that it has bounced every time. The price is currently above the retail support.

    If the BTC drops, we can expect altcoins to drop as well. As a result, we can expect the coin to drop as well. if the retail support breaks, we can expect the price of the coin to fall down even harder and hit the daily order block that is present below. Lowe time frame confirmations should be taken into consideration.

    Price Prediction – Binance Coin (BNB)

    BNB has been one of the highly bullish coins in the market. According to wallet investor, BNB in one year is expected to reach a value of $993. In five years, it is expected to touch $2770. This shows that even though the coin has a huge amount of potential in it and would give an amazing return but traders think that it wouldn’t be long before it reaches a new all-time high and starts trading above $10.

  • Binance Coin price prediction – Is $380 possible?

    The bullish week in the crypto market has resulted in a minor uptrend for Binance Coin. BNB coin had fallen to corrections after a price rally previously. The current week could be a repeat of that. At the time of press, the cryptocurrency stands at a price level of $313. The price of BNB coin has increased by 3% while the weekly gain is at 11%. The trading volume of the fourth largest cryptocurrency has fallen by 5%.

    BNB technical analysis

    The market sentiment of Binance Coin is neutral as the bullish momentum has decreased. Nine of the total twenty-six technical indicators are standing at a neutral and buy position each while the rest of the eight are indicating a sell position. The oscillators are neutral while the moving averages continue to be bullish.

    Binance Coin Price Prediction
    Binance Coin Price Prediction

    Binance Coin has been trading in a triangular formation – as identified by a trader’s analysis. The recent bullish momentum in the market has resulted in the cryptocurrency breaking out from the formation. BNB coin may continue on a possible upward trajectory if the bullish divergence does not die down. However, many various resistance levels lie ahead for the cryptocurrency. The first immediate resistance is at a price level of $325 followed by $340. The final price target for BNB coin is at $380.

    Binance Coin future outlook

    BNB coin is expected to have a positive outlook for the future primarily because of Binance Smart Chain. The underlying technology and mission/vision is what makes or breaks a cryptocurrency. Binance Coin powers the Binance Smart Chain which is an improved copy of the Ethereum blockchain. Hence, BNB is going to be more relevant when BSC’s technology boosts it. According to the estimates of Wallet Investor, BNB is expected to climb towards $657 in a year’s time while the five-year projection places the cryptocurrency at $2,000. Digital Coin Price predicts the cryptocurrency will reach $1,120 by 2026.

  • Binance Coin (BNB) – Bulls to push towards 0

    Binance Coin (BNB) – Bulls to push towards $350

    Binance Coin (BNB) appears to be the only cryptocurrency out of the large market cap ones to be moving upwards. The bulls have begun dominating the bears for Binance Coin as it started off on an upward trajectory. At the time of writing, BNB coin stands at a price level of $320. The price has increased by more than 5% in the past twenty-four hours while the trading volume has gone up by nearly 60%.

    Binance Coin (BNB) technical analysis

    The market outlook for the cryptocurrency is bullish. Out of the total twenty-six technical indicators, eleven are giving out an indication of buy while eight are standing at a neutral position and seven are bearish at a sell indication. The oscillators are bearish while the moving averages are bullish.

    Binance Coin (BNB) technical analysis
    Binance Coin (BNB) technical analysis

    Binance Coin can be observed to be operating inside a triangle formation. The price of the cryptocurrency has been oscillating up and down inside the formation while testing the boundaries as resistance and support levels. Up till now, the upper and lower boundary have been established as strong resistance and support, respectively. The recent bullish trend can be seen helping BNB coin reach towards the upper boundary of the formation – towards a likely break out. The price target for the cryptocurrency has been set at $347.

    Is Binance Coin (BNB) a good investment?

    The market has been flooded with cryptocurrencies; however, investors regard more than 90% of the cryptos as junk with just a handful of them worthy of attention. With so many cryptocurrencies in the market, how can one decide which one is a good investment? Simple, its technology.

    Binance Coin can be considered a good investment because of the underlying technology which is the Binance crypto exchange. Binance is the largest exchange by trading volume. The behemoth of an exchange also has a decentralized asset exchange – Binance Smart Chain – and an ecosystem of its own. Now, are there more chances of failure of a new cryptocurrency or of a large exchange like Binance? Hence, BNB coin possess locked potential.

    Moreover, the future projections for the cryptocurrency are more than bullish. According to the estimates of Wallet Investor, BNB coin was be trading at $664 in a year’s time while the five-year projection places the coin at $2000.

  • Binance Coin (BNB) to confirm an uptrend?

    Binance Coin (BNB) to confirm an uptrend?

    Binance Coin (BNB) had succumbed to bears once again after picking up the pace since the market crash. BNB coin appears to be mildly consolidating which may indicate the onset of bullish divergence. At the time of writing, Binance Coin stands at a price level of $294. The price has not been moving much in the past twenty-four hours. The daily trading volume has been rising incrementally.

    Binance Coin (BNB) Technical Analysis

    The market sentiment for Binance Coin is bearish. Out of the total twenty-six technical indicators, thirteen are standing at a sell position while nine are neutral and four are signaling a buy. The oscillators are neutral while the moving averages are suggesting a strong downtrend.

    Binance Coin (BNB) technical analysis
    Binance Coin (BNB) technical analysis

    The technical analysis of Binance Coin shows that the cryptocurrency has broken out of a bullish formation. Binance Coin can be observed to be moving upwards. Although the upward trend has yet to be confirmed yet, the candles in the shorter timeframes do show a plausible possibility of a reversal of the downtrend. The Fibonacci Retracement levels are acting as strong support and resistance. If the upward movement is confirmed, Binance Coin can be expected to reach towards $322 at the 0.5 Fibonacci level followed by $348 and $381.

    Incoming lawsuit for Binance Coin (BNB)?

    The SEC vs Ripple Labs lawsuit has made it evident that the SEC is planning to go after cryptocurrencies full force. Once the dust settles for the current lawsuit, the SEC may be planning to target other altcoins. Attorney Jeremy Hogan thinks that Binance Coin and tether may be the next picks of SEC. Hogan has been following the SEC vs. Ripple Labs lawsuit closely and per his expert analysis, both Binance Coin and Tether are at risk of a SEC probe.

  • Binance Coin (BNB) bullish momentum – Towards 4

    Binance Coin (BNB) bullish momentum – Towards $544

    Binance Coin (BNB) has increased nearly 13% in the past week. The cryptocurrency has effectively reversed its downward trajectory – although the price movements are highly volatile ever since the market crash, hinting towards uncertainty in the market. At the time of writing, BNB coin stands at a price level of $397. The price of BNB crypto has increased by 11% in the past twenty-four hours while the daily trading volume has shot up by 37%.

    Binance Coin (BNB) Technical Analysis

    The market sentiment for Binance Coin is neutral per the technical indicators. Out of the twenty-six technical indicators, ten are giving out a signal of buy nine are standing at a neutral position while seven are suggesting sell position. Both the oscillators and moving averages are neutral. The technical also suggest uncertainty in the market which could lead to even more volatility.

    Binance Coin (BNB) Technical Analysis
    Binance Coin (BNB) Technical Analysis

    A trader has identified a possible trajectory for Binance Coin. Per the analysis, Binance crypto was expected to stay stuck in the price level below $280 because of high bearish divergence; however, Binance Coin quickly regained bullish momentum and broke out of the resistance zone. Potential price targets have been identified to lie at the price level of $483 followed by $544. Binance Coin has shown good growth after the crash with no reason that the cryptocurrency may not continue the upward trend.

    Binance Coin (BNB) price prediction

    Trading Beasts’ projections for the future are not in the favour of the coin. The projections show Binnace Coin’s price to decline by the end of the year to $366 while the average price for 2024 is expected to be $661. However, Wallet investor predicts $600 in a year’s time while the 5-year forecast show a staggering price level at $2007. Digital Coin Price is also bullish on the cryptocurrency and projects a similar price of $617 by 2021 and $1747 by 2028.

  • Binance Coin (BNB) to go upwards to fall downwards?

    Binance Coin (BNB) to go upwards to fall downwards?

    Binance Coin (BNB) has fallen from its golden days of nearly $700 to a price level of $269, at the time of writing. BNB coin has fallen nearly 60% in the one-month timeframe. The market crash had been brutal to all cryptocurrencies with gains seen in the bull run nearly reversed. Binance Coin is on a steep downtrend with the price decreasing by 10% in the past twenty-four hours. However, the daily trading volume of the cryptocurrency has been rising as investors follow the “buy the dip” mantra. The question is, how much more will Binance Coin actually fall?

    Binance Coin (BNB) Technical Analysis 

    In line with the overall crypto market, the sentiment for BNB crypto is bearish. Out of the total twenty-six technical indicators, fourteen are giving out a signal of sell with seven standing at a position of neutral and only five indications at buy. The oscillators are neutral while the moving averages are strongly bullish.

    Binance Coin (BNB) Technical Analysis
    Binance Coin (BNB) Technical Analysis

    A trader has identified two possible trajectories for Binance Coin in their BNB crypto price analysis. At the crucial movement that BNB coin is operating at, it can either establish support and go upwards or fall too much lower price levels. Binance Coin has failed to establish a support level at the price level of $275 – which was a strong supporting level. The next support lies at the price level of $225 followed by $140. If the coin is on an upside move than the resistance level at $476 can be a possible price target.

    Is Binance Coin a good long-term investment?

    If observing the current market scenario then this question may be hard to answer as the market is in a dip and not many cryptocurrencies can show a good short to mid-term potential. Cryptocurrencies are considered good or bad based on their underlying technology – the difference they are making.

    Binance Coin may be considered an integral part of the Binance ecosystem – which is not something to be. Taken lightly. Binance is, after all, one of the largest cryptocurrency exchanges with accounting for the highest Bitcoin futures volume. The Binance coin is also the native token of the Binance Smart Chain – making it have a good stake in various good projects. So, given the technology Binance Coin is expected to climb upwards.