Post-CZ BNB Price Analysis: Will It Outperform Bitcoin?



After Binance founder and former CEO Changpeng “CZ” Zhao was released from a four-month US federal jail term for AML breaches on September 27, BNB has been a crypto market focus.


Many wonder how BNB will do in the market. CZ's release may ignite a surge, while some anticipate BNB will follow altcoin trends.


BNB, like Bitcoin (BTC), has traded in a wide range for months, signaling a bullish-bearish stalemate. Long-term investors are hopeful, with some experts predicting a new all-time high for Bitcoin in the fourth quarter or by 2025. BNB may reach $1,000, according to some experts.


Can BNB outperform Bitcoin or struggle to regain its highs? An examination of the BNB/BTC chart may answer that.


Weekly BNB/BTC Price Analysis
BNB/BTC is attempting to reverse its downturn, but the 38.2% Fibonacci retracement level of 0.010 BTC is resistance. Rakesh Upadhyay says traders sell into rallies, signaling bearish sentiment, making this level difficult.


The price rebounding off the 20-week exponential moving average (EMA) would indicate bulls purchasing on dips. If bulls break the 0.010 BTC resistance, BNB/BTC may rise to the 50% Fibonacci retracement level at 0.012 BTC and the 61.8% level at 0.014 BTC. Overcoming this barrier might stop the slide.


BNB/BTC Daily Price Analysis


For months, BNB/BTC has traded between 0.008 BTC and 0.010 BTC on the daily chart. Both moving averages are intercrossing, and the RSI is at the midway, indicating supply-demand equilibrium.


A breach below the 50-day SMA at 0.009 BTC might bring the pair to 0.0086 BTC, which bulls must defend. The pair might tumble to 0.008 BTC if this level falls. First resistance is 0.0097 BTC on the upside. Bulls may retest 0.010 BTC if they break this level. A rejection at this level would keep the price range-bound, but a breakthrough might spark a surge to 0.012 BTC.



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