Binance Coin Price Forecast: No End in Sight
for BNB Rally The Binance Coin price is paring back some
of the losses it made in the overnight session. BNB is trading at $656, which is slightly
above the overnight low of $625. Its market capitalization has surged to more
than $100 billion, becoming the third-biggest digital coin in the world. What is Binance Coin: For starters, Binance
is the world’s biggest cryptocurrency exchange in the world by volume. The company is said to be more valuable than
Coinbase, the biggest exchange in the US that is valued at more than $60 billion. In 2018, Binance launched the Binance Chain
through an ICO that raised around $25 million. The chain is similar to Ethereum in that it
helps developers build decentralized applications. The most famous project built using this network
is PancakeSwap. BNB is the native currency for the network,
in a similar way that Ether is the currency for Ethereum. Meanwhile, Binance is not taking advantage
of the recent surge in stock prices to go public.

In an interview with Bloomberg yesterday,
the company’s founder and CEO said that the company was looking to stay private for
a while just as Bloomberg has been private for decades.Binance Coin Price Prediction
The BNB price has done well in the past few years. Indeed, it is an incredible story of how a
currency that was valued at less than $25 million a few years ago reached a market cap
of more than $100 billion. On the four-hour chart, we se that the BNB
price has formed an ascending channel. Indeed, the currency touched the lower side
of this channel in the overnight session. The uptrend is also being supported by the
25-day and 15-day EMA. It is also slightly above the important resistance
level at $613, where it had struggled to move above several times before. Therefore, in my view, the currency will keep
surging as bulls target the next key resistance at $750. Any dip at this point should be considered
a dip. Binance Coin Analysis: BNB Skyrockets 23%
Weekly to a New ATH Around $680 BNB is up by a total of 23% this week as it
sets new ATHs around $680. It is also outperforming bitcoin after it
reached the current price of 0.0116 BTC.

BNB/USD – Bulls See Fresh ATHs Above $600
Key Support Levels: $640, $600, $573 Key Resistance Levels: $680, $700, $710 BNB is up by a strong 23% this week, setting
a new ATH near $680. The coin was trading inside an ascending triangle
during April with the roof at $600. It was penetrated on the final day of April
after closing above $600. Since then, BNB continued to climb higher. Initially, it found resistance at $640, but
this was penetrated yesterday as the cryptocurrency set a new ATH near $680. There it found resistance at a short-term
1.272 Fib Extension and has since rolled over to the current $650 level.BNB-USD Short Term
Price Prediction Moving forward, the first resistance lies
at $680 (short term 1.272 Fib Extension). This is followed by $700, $710 (short term
1.414 Fib Extension), $750 (short term 1.618 Fib Extension), $781 (1.414 Fib Extension),
and $800. On the other side, the first support lies
at $640.

This is followed by $600, $573 (.236 Fib),
$560 (20-days MA), $506 (.382 Fib), and $478. The RSI reached near overbought conditions
and has started to point lower, indicating the bullish momentum is no longer increasing. Additionally, the Stochastic RSI is primed
for a bearish crossover signal that might see the market retracing back toward $600. BNB/BTC – Bulls Set Highs Just Shy Of 0.012
BTC Key Support Levels: 0.011 BTC, 0.0105 BTC,
0.01 BTC. Key Resistance Levels: 0.0121 BTC, 0.013 BTC,
0.0135 BTC. BNB is also outperforming bitcoin after setting
new highs yesterday. The coin found resistance at 0.0105 BTC during
April but finally penetrated above it in the final days of the month. In early May, BNB dropped back into the 0.0105
BTC support before rebounding from there on Sunday. Yesterday, it broke 0.011 BTC to set a new
ATH price just shy of 0.012 BTC.BNB-BTC Short Term Price Prediction
Looking ahead, the first resistance lies at 0.0121 BTC (1.272 Fib Extension).

This is followed by 0.013 BTC (1.414 Fib Extension),
0.0135 BTC (1.414 Fib Extension – blue), and 0.014 BTC. On the other side, the first support lies
at 0.011 BTC. This is followed by 0.0105 BTC, 0.01 BTC (.236
Fib & 20-days MA), and 0.0091 BTC (.382 Fib). The RSI
is also starting to head lower but remains strongly in the bulls’ favor. The Stochastic RSI seems to be in a strong
position for BNB to continue rallying against bitcoin. subscribe channel
affiliate cambodia thank you!.

You May Also Like