sion of CMC @cz_binance ? CMC has been shady on several topics. You guys should be in everything, which appears to be your goal. Sure hope so b/c I’m long (heavily) on $BNB
BNB/USD Long-term Trend – Bullish
- Distribution territories: $11, $12, $13
- Accumulation territories: $6, $5, $4
On February 4, Binance Coin market strived to beef up its driving force against the US dollar. On its succeeding day, the crypto visibly continued to surge higher northwards to eventually touch past $9 last week’s immediate distribution territory briefly on February 9.
The market line has actively been trading around the $9 horizontal point. Both the SMA indicators seemingly point towards north than an east direction in their outlook. The 14-day SMA still maintains an upper location over the 50-day SMA. The Stochastic Oscillators are found consolidating around range 80 closely to the overbought zone.
The market may soon be witnessing a pit-stop between $9 and $7 marks, and during that presumed course, there may be short ups and downs. A breakdown through the 14-day SMA southwards may not be finding it easier against the 50-day SMA to freely make a smooth passage in favor of bears. Whilst that even happens, it may allow the bulls to re-find its foundation for anew decent entry.
Source: Bitcoin Exchange Guide
Binance Coin Price Hits $19.5 but Bearish Pressure Intensifies
It has been a very interesting weekend for all cryptocurrencies, albeit the end result is not necessarily what traders expected. Most of the markets are currently in the green again, yet it seems the bearish pressure will not relent just yet. As far as the Binance Coin price is concerned, it would appear the current uptrend may not remain in place for too much longer.
Binance Coin Price Shows Signs of Reversing
When a new week comes around and Bitcoin is still in the green, there is plenty of reason to be cautiously optimistic. However, that doesn’t necessarily mean all of the alternative markets will go through similar momentum. More often than not, a positive Bitcoin trend is nefast for altcoins, albeit things are not looking too bad right now. Binance Coin still notes some gains, although it will dip in the red fairly quickly at this rate.
To be more specific, the Binance Coin price currently sits at $19.5. This represents a 2.37% increase in USD value, which is more than acceptable under the current market circumstances. The bigger concern is how BNB is already in the red over Ether, and the 0.52% gain over Bitcoin might not remain in place for much longer either. Mondays are known for their overall volatility, thus this trend is not entirely surprising either.
On social media, it would appear as if there is some additional information regarding Binance’s BNB burn. As most users are aware of, BNB coins are burned every single quarter, although the amount is not necessarily communicated in advance. As such, users can now predict how many tokens will be destroyed in the coming weeks. This burn phase will help reduce the overall supply, thus potentially trigger a Binance Coin value change in the process.
It's starting to get hot in here!🔥🔥🔥
— Binance (@binance) April 14, 2019
There is also another interesting tidbit of information which no one can refute. As Chuck Costellos shows, there is a genuine rate of engagement regarding Binance Coin. While these statistics are never indicative of what a project may be all about in the long run or how its price will evolve, it would appear people enjoy talking about BNB regardless. Whether or not this will aid in the push to $20, is a different matter altogether.
— Chuck Costellos (@ChuckCostellos) April 15, 2019
Speaking of the current and future BNB price, it would appear the current chart doesn’t necessarily look too appealing either. As the latest push has not been officially confirmed, it would appear a downtrend is in order. This is in line with the current BNB value decline in ETH value, with its BTC value likely to follow pretty quickly. How dire things will get, remains to be determined, but for now, it seems the uptrend has come to an end.
— 金のがちょまる🐥🐥《XRP命》 (@MrBitcoin17) April 15, 2019
When looking at the bigger picture, a trend established on Monday morning isn’t necessarily indicative of what this week will bring to the table. Considering how all cryptocurrencies rely on Bitcoin first and foremost, there will always be some volatility. Binance Coin will not be able to escape this negative trend at this time, although it seems unlikely any major changes should be expected.
Binance Coin Price Targets $16 as Slow Uptrend Begins to Materialize
When Bitcoin goes in the green again, most of the alternative markets will follow suit pretty quickly. Today is no exception in this regard, although it would appear as if there is still some uncertainty across the markets as well. The Binance Coin price is moving up nicely, although it is taking a slow and steady approach first and foremost.
Binance Coin Price Tries to hit $16 Again
It is evident the cryptocurrency industry is still in a good place right now, especially with most of the top markets shifting into the green zone again. While some stability would also be appreciated, most traders prefer to see some gains at any given time. It appears Binance Coinhas users covered in this regard, primarily because it tends to note some gains in quick succession at all times. Today is no different in that regard, albeit the market isn’t moving up as swiftly as people expected.
15,84 USD (1,76%)
$2,24 B USD
$150,12 M USD
Over the past 24 hours, the Binance Coin price has risen by 1% in USD and ETH value, and 0.77% in Bitcoin value. While all of these trends are somewhat promising in their own regard, it remains to be seen if they can be sustained for very long. As the value approaches $15.9 again, a push to $16 again is not entirely out of the question. Considering how the trading volume is still relatively low, however, that may require a bit of extra effort first and foremost.
On social media, there are many different discussions pertaining to BNB. Some users would love to see Binance build a better Coinmarketcap, as that site has gotten a lot of flack in the past twelve months. It now seems something will need to change in this regard, although it is unclear what role BNB would play in that regard. There are plenty of CMC alternatives out there already, although some of those still derive incorrect market data from that site in the end.
When it comes to the current price charts, however, it remains to be seen what will happen next. CryptoandChill expects BNB to pull back to $12 in the coming days, which would require a very bearish turn of events all of a sudden. It is not entirely impossible this market would lose 25% in value for no apparent reason, but at this time, that scenario seems implausible.
Depending on how far one would zoom out on the chart, it quickly becomes apparent BNB is still mega bullish. Any level of resistance to date has been wiped out pretty quickly, although there is still a good chance this last set of green candles will be undone in quick succession. Although Binance Coin tends to do its own thing first and foremost, there is no market which rises in value for an extended period of time without facing price drop.
All of the signs seem to indicate things will get very interesting for all top cryptocurrencies, tokens, and assets. Although Binance Coin is gaining a lot less value than one might assume, there is nothing to be overly concerned about as of right now. This current uptrend should not face too many problems as long as Bitcoin remains in the green. However, anything can happen in this volatile industry.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.
Is Binance Coin on its way to the top 5? BNB flips Tether with 15% gains
This week has seen Binance coin (BNB) breach into the top 10 flipping Tron (TRX) Stellar (XLM) and now Tether, but can it continue this rally all the way into the top 5?
Currently citing gains of over 15%, and at a price of $15.46, BNB has decidedly continued on its rally, now responsible for leading the path for the rest of the top 100.
With 150% gains since the start of 2019, 50% of which was accumulated over the past 7 days, BNB looks poised to attempt to flip Bitcoin cash (BCH) for 6th position.
In comparison, BCH has had a fairly poor run this week citing a negligible +0.5% gain. Its current market cap sits at around $233 million compared to BNB which is at a tantalizingly close $231 million, making it almost certain that BNB will flip BCH, imminently.
The community reaction to this BNB run has been varied, with a few people rallying behind the cryptocurrency:
Binance just took the # 7 spot now.
Wait until the next wave of new users come on board in year 2020. Many of them will sign up with Binance and make it the clear leader in the exchange market.#BNB is 🔥🔥🔥 Up over 85% in the past 30 days now.@cz_binance @binance $BNB pic.twitter.com/fGDPzNZhYB
— Tommy Mustache (@MustacheTommy) March 6, 2019
$BNB up 40%+ since the last tweet, this almost felt like a free trade? because of the reasons I listed before
Binance DEX hasn't even launched yet
When top 5? pic.twitter.com/4R5m18NnqR
— Moon Overlord (@MoonOverlord) March 6, 2019
whispers ᶜᵒᵘˡᵈ ᴮᴺᴮ ᶠˡᶦᵖ ᴱᵀᴴ
— Moon Overlord (@MoonOverlord) March 6, 2019
However, one user posited that BNB was close to its high, advising investors to stay away:
Just by reading the tweets I can tell that $BNB is really close to the euphoria phase, if not already there. Smh
I can easily see now how guys that were here before me are so good at spotting top/bottoms without a single chart…
— Mitoshi Kaku 👨🏻🚀 (@CryptoSays) March 6, 2019
Despite the sheer momentum driving BNB right now, it seems as if BCH will be the last positive flip we see from the cryptocurrency for a while.
Litecoin (LTC) currently guards entry to the top 5, with a massive market cap of over $2 billion, compared to BNB’s $231 million. BNB would have to gain more than +800% in order to get close to the top 5. But anything can happen, this is crypto, after all.