On Oct 01, 2024, 20:41 PM(UTC). According to Binance Market Data, BNB has dropped below 540 USDT and is now trading at 538.400024 USDT, with a narrowed 6.35% decrease in 24 hours.

Most of the coins could not hold the bullish trend, according to CoinStats.

BNB chart by CoinStatsBNB/USD

The rate of Binance Coin (BNB) has fallen by 1.44% over the last 24 hours.

Image by TradingView

Despite today's drop, the price of BNB keeps looking bearish on the hourly chart. If the breakout of the local support level of $565.20 happens, the energy might be enough for a test of the $560 range tomorrow.

Image by TradingView

On the bigger time frame, the rate of BNB is far from the main levels. In this case, one should pay attention to the bar's closure in terms of yesterday's low. If it happens below it, the fall may continue to the $550 area within the next few days.

Image by TradingView

From the midterm point of view, the situation is bearish. The price of the native exchange coin keeps going down after a false breakout of the resistance of $612.60. If buyers cannot seize the initiative shortly, the correction may lead to a test of the $520 zone soon.

BNB is trading at $566.90 at press time.

BNB token is about to face the fourth phase of the Wyckoff pattern, claims an analyst.

BNB will show retracement and fall to lower support levels, MaryParty predicted.

The altcoin has been moving in the $465 and $610 zone since June.

Binance Coin (BNB), the fourth-largest cryptocurrency, has completed the first three phases of the Wyckoff pattern, according to crypto analyst MartyParty. This suggests BNB may avoid a significant correction until a new accumulation phase begins.

MartyParty shared his successful BNB trades based on the Wyckoff pattern in an X post. This technical indicator consists of four phases: accumulation, momentum, distribution, and discount. BNB has progressed through the first three, signaling a potential “retracement” in price.

Exactly 4 months of Liquidation Level trading. #BNB perfect 3 flushes of the Wyckoff executed over 4 months. Flawless. Now we retrace.#wegoingup pic.twitter.com/9bVLZc3Zdh

— MartyParty (@martypartymusic) September 30, 2024

Read also: CZ’s Next Move: Investing in Tech After Prison Release

BNB appears to have finished the first three phases, and prices will now likely “retrace,” according to MartyPa…

The post BNB Completes Wyckoff Pattern: Analyst Predicts Retracement appeared first on Coin Edition.

The price of #BNB recently corrected below the $600 mark but now seems to hold key support at $565. This suggests that it could be gearing up for another upward move.

Key Points:
BNB corrected from its peak around $620.It is currently trading below $590 and the 100-hour simple moving average.On the hourly chart for BNB/USD, a bearish trend line is forming with resistance at $585.To continue its upward momentum, the price must stay above $565.
BNB Prepares for Another Rise
After a significant increase, the price of $BNB faced a decline from the $620 zone. A high was reached at $618 before the price began to correct downwards, similar to Ethereum and Bitcoin.
The price fell below $600 and $590, even dipping under $580. However, #bulls re-entered near the $565 mark, where a low was formed at $564. Since then, the price has been recovering, rising above $570. It is now approaching the 23.6% #Fibonacci retracement level of the move from the $618 high to the $564 low.
Currently, #bnbCoin is trading below $585 and the 100-hour simple moving average. If the price rises again, it may face resistance near the $580 level. Another key resistance is at $585.

On the hourly chart, a bearish trend line is visible, providing resistance at $585. If the price breaks through this level, it could retest $600. In the event of success, BNB could attempt to reach $620, a significant resistance level. Further gains might push the price toward $650.

What If the Price Doesn't Hold Support?
If BNB fails to break the resistance at $585, a further decline might follow. The initial support on the downside will be around $570, followed by key support at $565.
A break below $550 could lead to a larger drop towards $532. Any additional losses could drive the price down to as low as $520.

Technical Indicators:
Hourly MACD – The MACD for BNB/USD is losing strength in the bearish zone.Hourly RSI – The RSI is currently hovering around the 50 level, indicating neutral market sentiment.Key Support Levels: $565 and $550.Key Resistance Levels: $585 and $600.

Notice: ,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

BNB price corrected gains below the $600 level. The price is now holding the key $565 support and might aim for a fresh increase.

BNB price started a downside correction from the $620 resistance zone.

The price is now trading below $590 and the 100-hourly simple moving average.

There is a key bearish trend line forming with resistance at $585 on the hourly chart of the BNB/USD pair (data source from Binance).

The pair must stay above the $565 level to start another increase in the near term.

BNB Price Extends Rally

After a major upward move, BNB price saw a rejection pattern nears the $620 zone. A high was formed at $618 and the price started a downside correction like Ethereum and Bitcoin.

There was a move below the $600 and $590 levels. The price even dipped below $580 before the bulls appeared near $565. A low was formed at $564 and the price is now rising. It climbed above the $570 level and now approaches the 23.6% Fib retracement level of the downward move from the $618 swing high to the $564 low.

The price is now trading below $585 and the 100-hourly simple moving average. If there is a fresh increase, the price could face resistance near the $580 level. The next resistance sits near the $585 level.

There is also a key bearish trend line forming with resistance at $585 on the hourly chart of the BNB/USD pair. A clear move above the $585 zone could send the price higher. In the stated case, BNB price could test $600 or the 61.8% Fib retracement level of the downward move from the $618 swing high to the $564 low at $597.

A close above the $600 resistance might set the pace for a larger move toward the $620 resistance. Any more gains might call for a test of the $650 level in the near term.

More Losses?

If BNB fails to clear the $585 resistance, it could start another decline. Initial support on the downside is near the $570 level. The next major support is near the $565 level.

The main support sits at $550. If there is a downside break below the $550 support, the price could drop toward the $532 support. Any more losses could initiate a larger decline toward the $520 level.

Technical Indicators

Hourly MACD – The MACD for BNB/USD is losing pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BNB/USD is currently near the 50 level.

Major Support Levels – $565 and $550.

Major Resistance Levels – $585 and $600.

Source: NewsBTC.com

The post BNB Price Could Regain Momentum: Is an Upswing Coming? appeared first on Crypto Breaking News.

The cryptocurrency market often presents an exciting opportunity for investors, especially in the lead-up to a potential bull run.

But, with countless options available, identifying the altcoins poised for substantial growth can be challenging yet rewarding. The upcoming market rally could be the perfect time to explore projects demonstrating strong fundamentals, technological advancements, and growing communities.

So, let’s explore the most promising altcoins, such as BNB, ADA, Kaspa, and BlockDAG, that could generate impressive gains as the market heats up.

1.  BlockDAG: The Future of Scalable Transactions

BlockDAG, a layer 1 blockchain project, transforms blockchain technology with its Directed Acyclic Graph (DAG) structure, enabling unparalleled scalability and fast transaction processing.

The unique DAG structure eliminates the issues faced by traditional blockchains, enhancing speed and efficiency in handling large transaction volumes. This unique DAG structure paves the way for rapid adoption, making it a top contender for the next crypto bull run as it attracts developers and crypto enthusiasts looking for cutting-edge blockchain solutions.

BlockDAG’s ongoing presale success adds to its growing reputation. With over $77.7 million raised and significant price surges in each presale batch, early holders have seen a substantial 1820% rise in their funds. This rapid success is making it a highly attractive option for crypto enthusiasts eyeing the next market surge.

2.  Cardano (ADA): Strengthens Smart Contracts

Cardano (ADA) is a blockchain platform known for its scientific approach to development and commitment to sustainability. Founded by Charles Hoskinson, a co-founder of Ethereum, Cardano uses a layered architecture that separates transaction settlement from computation, enhancing security and scalability.

The recent Vasil hard fork has improved the platform's smart contract capabilities, making it more attractive for decentralized finance (DeFi) and decentralized applications (dApps).

3.  Kaspa (KAS): Simultaneous Block Processing

Kaspa (KAS) offers a unique take on blockchain, designed for high throughput and rapid transactions. Unlike traditional blockchains, Kaspa processes multiple blocks simultaneously, which significantly boosts its scalability and speed. This technology positions Kaspa as an ideal solution for applications requiring fast confirmations and efficient transaction handling. 

As the crypto market gears up for the next bull run, Kaspa’s innovative approach to blockchain technology and its relatively low market price make it a promising contender for exponential growth. Its community-driven development and increasing use cases suggest a strong potential for high returns.

4.  Binance Coin (BNB): Powers the Binance Smart Chain

Binance Coin (BNB) has evolved far beyond its original use as a utility token for the Binance exchange. Currently, BNB powers the Binance Smart Chain (BSC), offering reduced transaction fees and fueling various decentralized applications (dApps) across the DeFi landscape.

Regular token burns reduce BNB’s supply, which adds upward pressure on its price, especially as Binance expands its global influence. With a growing ecosystem, continued adoption, and real-world use cases, BNB remains a powerhouse in the crypto space.

BlockDAG- Set to Lead the Next Crypto Bull Run

While Cardano, Kaspa, and Binance Coin each bring unique strengths to the table, BlockDAG leads among the top 4 altcoins for the next crypto bull run. Its groundbreaking technology, combined with its no-code capabilities and presale success, makes BlockDAG a clear frontrunner for massive growth. As the market heats up and the bull run draws near, early investors have a golden opportunity to secure coins poised for 1000x returns by early 2025.

In the crypto landscape, BlockDAG leads among the top altcoins as it blends cutting-edge blockchain technology with user-friendly smart contract development and impressive presale achievements. While projects like Cardano, Kaspa, and Binance Coin have substantial growth potential, BlockDAG’s advancements in blockchain scalability and its ongoing presale surge make it the standout choice for investors looking to capitalize on the next crypto bull run.

Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

The post BNB Price at Risk of 15% Drop? On-Chain Data Flashes Bearish Signal appeared first on Coinpedia Fintech News

Amid an ongoing price correction across the cryptocurrency landscape, Binance Coin (BNB) is set for a significant price decline as its daily chart flashes a bearish signal. This signal for BNB suggests that history may repeat itself once again. 

BNB Technical Analysis and Upcoming Levels

According to expert technical analysis, BNB appears bearish despite trading above the 200 Exponential Moving Average (EMA) on a daily time frame. The 200 EMA is a technical indicator that traders and investors use to determine whether an asset is in an uptrend or downtrend. 

Source: Trading View

In addition, with the recent price drop, BNB has broken the lower side of the consolidation zone which was there on the strong resistance level. However, if the asset closes its daily candle below the $575 level, there is a strong possibility that BNB’s price could decline by 15% to reach the support level of $480 in the coming days. 

This is the third time in the past three months that BNB has faced a price reversal from the resistance level of $610. Earlier, on July 21 and August 22, 2024, BNB experienced a similar price reversal from this resistance level and experienced a 15% price drop. The crypto community is expecting a similar price reversal this time.

BNB’s Bearish On-Chain Metrics 

BNB’s negative outlook is further supported by on-chain metrics. According to on-chain analytics firm Coinglass, BNB’s Long/Short ratio currently stands at 0.827, indicating a strong bearish sentiment among traders. Additionally, its future open interest has declined by 7% over the past 24 hours and has been steadily falling, indicating decreasing interest from investors and traders in the asset.

Source: Coinglass

Currently, 54.72% of top traders hold short positions, while 45.28% hold long positions. This on-chain data indicates that bears are currently dominating the asset, making a potential price decline more likely. 

Current Price Momentum 

At press time, BNB is trading near $575 and has experienced a price decline of over 4% in the past 24 hours. During the same period, its trading volume increased by 23%, indicating higher participation from crypto enthusiasts potentially due to BNB’s bearish outlook.

BNB completed the first three phases of the Wyckoff pattern, signaling a potential price retracement before a new accumulation phase begins.  

BNB has consolidated between $465 and $610 since June, with a breakout above $610 potentially signaling a trend reversal toward its ATH.  

The RSI for BNB is 54.56, indicating bullish control, with gradual price increases expected if buying pressure sustains momentum.

Binance Coin (BNB), the fourth-largest cryptocurrency by market cap, has successfully completed the first three phases of the Wyckoff pattern. This development was confirmed by crypto analyst Marty Party, who has closely followed BNB progress. 

According to his analysis, the cryptocurrency now stands at a critical point. This suggests that the market could avoid a significant price correction until a new accumulation phase begins.

https://twitter.com/martypartymusic/status/1840805618103271812 Price Consolidation Maintains Stability

Notably, BNB has been consolidating between the price range of $465 and $610 since June. Despite these fluctuations, the cryptocurrency has not yet broken out of this zone. MartyParty's analysis indicates that BNB has completed the accumulation, momentum, and distribution phases of the Wyckoff pattern. 

Intriguingly, these developments are significant, as they suggest that BNB may be preparing for a "retracement" in price. This retracement would occur before the cryptocurrency enters its next phase of growth, provided there is sufficient buying volume to support it.

Additionally, a breakout above the $610 price level would mark a trend reversal for BNB, positioning it towards its all-time high of $720.67. At present, the cryptocurrency is still around 20% below this peak. 

However, analysts note that increased buying volume could push BNB toward new highs, especially if the current consolidation phase breaks in favor of the bulls. The recent 11.81% price increase over the past 30 days adds further optimism to this scenario, although short-term fluctuations remain as BNB has dropped 0.26% in the past 24 hours and 3.71% over the past week according to data from coinmarketcap.

RSI Indicates Bullish Momentum

Further strengthening the bullish outlook for BNB, the Relative Strength Index (RSI) currently sits at 54.56, indicating that bulls control the market’s price action. The RSI’s gradual upward trend suggests the possibility of continued price increases. 

However, the cryptocurrency will need to see sustained buying pressure to break through its current consolidation phase. This technical indicator, combined with the completion of the Wyckoff pattern’s first three phases, presents a cautiously optimistic outlook for BNB in the near term.

The post BNB Concludes Wyckoff Pattern: Analyst Anticipates Pullback appeared first on Crypto News Land.

Cardano (ADA) and Binance Coin (BNB) are among the most popular crypto assets because of their strong blockchain architecture, scalability, and sustainability. However, current market patterns suggest that their prices may lag behind other products.

BNB, the Binance Ecosystem’s native cryptocurrency, fell even after the release of Binance’s founder and former CEO from prison. The release of CZ appears to have done little for his platform’s native token, of which he owns a large portion of the allocation.

Although Cardano (ADA) and Binance Coin (BNB) are strong forces in cryptocurrency, DTX Exchange is emerging as a dominant force capable of providing significant returns to investors. Its hybrid trading platform and distinct characteristics make it a top DeFi project to invest in for potential big profits.

Binance Coin (BNB) has no impact on the price with the release of CZ

The former CEO of Binance, Changpeng Zhao, is the 24th richest man in the world, with a net worth estimated to be in the $61 billion area due to his massive 64% stake in the whole Binance Coin (BNB) supply.

It was anticipated that his release from prison would lead to a rally of the Tokens within his sphere of influence. The price of the Binance Coin (BNB) has decreased from when it was traded at $700 per token a few months ago. CZ now has 94 million Binance Coin (BNB) tokens in circulation, which is valued at over $57 billion.

According to a Forbes 2024 Analysis conducted with Grey Wolf Analysis, the original Binance team was given 80 million Binance Coin (BNB) tokens, of which 46 million are now in their possession. The biggest impact of CZ’s legal battle with US authorities on BNB occurred in 2023 when Binance Ltd. and the SEC came to a $4 billion deal.

CZ makes his first statement after his release from prison

CZ made his initial public remarks earlier today, outlining his future plans. Although he first requested some downtime, he then stated that Giggle Academy, an online learning platform, is steadily improving.

“Will continue to invest in blockchain/decentralized technologies, artificial intelligence, and biotech,” Zhao declared. As a long-term investment, impact is more important to me than profits.

Cardano (ADA) faces uncertainty and struggles to gain traction

Cardano (ADA) finds it difficult to gain favorable attention in every aspect. Since user numbers have stayed constant for the past year, platform enhancements have not resulted in more engagement, and the Cardano (ADA) price trend has stalled. The Cardano (ADA) community is split on the best course of action, with cryptocurrency traders probably avoiding Cardano (ADA).

This year, the price of Cardano (ADA) has been on a sustained downward trend. The appearance of consolidation, meanwhile, has traders concerned that the market may have bottomed out.

Whales may drastically cut their holdings if they anticipate low profitability. It could be challenging for Cardano (ADA) to restore its upward momentum when whales are losing confidence.

Whales are going towards DTX Exchange (DTX) due to its 100x profit potential

Over 15,000 individuals have purchased DTX tokens, indicating a sharp increase in demand for these assets. Its price is expected to increase by 50 times when the tokens begin trading on CEX. An emerging hybrid exchange with many advantages, DTX Exchange offers features like AI automated trading and gas-free trading.

Furthermore, by combining hybrid technology with extremely safe decentralization models, DTX Exchange boosts security. Some of the features include the ability to trade anonymously, tier-based accounts, and single asset ownership.

Learn more:

Buy Presale

Visit the DTX Website

Join the DTX Community

Binance Coin (BNB) navigates through a challenging market landscape, recent technical and on-chain indicators suggest a troubling trend that could…

For the full story, head over to TheCurrencyAnalytics.com.

Binance Exchange announced that it has issued a token economy warning regarding 10 altcoins and that a warning text will be added to the platform next to the payments. The exchange announced that transparency checks will be increased as of today and that it will also start running the warning text.
Binance Exchange stated that it has issued a risk warning for 10 altcoins and that this operation has seriously changed the token economies in the last 18 months.
From now on, the exchange will increase its research on tokens and the altcoins that it has issued warnings for in the first stage are as follows: “Travala (AVA), Chiliz (#CHZ ), Enjin Coin (#ENJ ), IOTA (IOTA), Lisk (LSK), Metal DAO (MTL), Orion (ORN), Self Chain (SLF), Solar (SXP), Vanar Chain (VANRY)” It was also stated in the statements that from now on, there will be a warning program next to the program names that are expected to have excessive increases or changes in token supply.
Services related to the relevant tokens will continue without any problems at the moment. In other words, there will be no delisting.
Binance stated that this application started after warnings from its users.
#binance #BNB #altcoins

📉💥
Binance Coin (BNB) has been a core asset in the crypto world, acting as the utility token for the Binance exchange and its growing ecosystem. However, the market is always volatile, and BNB is no exception. Currently trading at $578.8, BNB is showing signs of a potential breakdown after several days of consolidation. But does this mean it's all over for the bulls? Let’s analyze the chart and find out.
BNB Technical Analysis: Testing Key Support Levels
Looking at the 1-hour chart, BNB is clearly in a downtrend after being rejected multiple times from higher resistance levels.
- 7-period SMA (Simple Moving Average) is sitting at $579.8, acting as immediate resistance. Until the price can reclaim this level, it will likely continue to face selling pressure.
- 25-period SMA is positioned slightly higher at $590.6, adding another layer of resistance for BNB to break through.
- The 99-period SMA, located at $599, highlights the significant downturn since the price failed to sustain momentum above $600, a key psychological level.
The price has dropped below all key moving averages, suggesting that short-term momentum is still bearish. Traders need to watch if BNB can break back above the $580-$590 range. Failure to do so might mean more downside in the near term.
MACD: Deep in Bearish Territory
The MACD (Moving Average Convergence Divergence) is currently flashing strong sell signals. With the MACD line at -5.2 and the signal line at -4.4, the coin is experiencing significant bearish divergence. The histogram shows a pronounced red area, further emphasizing the ongoing sell-off.
A possible MACD crossover to the upside could signal a shift in momentum, but at the moment, the indicator is firmly bearish.
Volume: Lack of Buying Interest
Another concerning sign is the volume. With SMA 9 volume at 3.329K, there is a noticeable lack of buying interest in the market. This drop in volume suggests that bulls are not stepping in to defend the current support levels. Without a significant spike in volume, any potential rally could be short-lived or fail to gain traction.

Market Sentiment: The Bigger Picture
BNB has been struggling alongside the broader crypto market, which has experienced a period of risk-off sentiment. Global economic factors, regulatory uncertainties, and bearish trends in major altcoins have weighed on Binance Coin's price action.
Recent Binance news, including expanding partnerships and new projects, might offer long-term upside, but traders should be mindful of the short-term volatility in the market.
Trading Recommendations: What’s Next for BNB?
For short-term traders, the outlook is still bearish, but there are key levels to watch.
- Short-term traders should keep an eye on the $580-$590 range. A breakout above this resistance zone, along with increased volume, could indicate the beginning of a reversal. A tight stop-loss just below $575 would help manage risk if the price moves lower.
- On the downside, if BNB fails to hold $575, the next support level is likely around $550. Traders might want to consider taking profits or cutting losses if the price starts dropping towards these levels.
For long-term investors, the current pullback might represent a decent buying opportunity, but caution is advised.
- Long-term investors could use this dip to accumulate more BNB if they believe in the fundamentals of the Binance ecosystem. However, keep in mind that the coin could still face more downside pressure in the short term.
- Waiting for a more significant support level to be tested (such as $550) before adding to positions could be a safer strategy. If you are bullish on the project’s long-term potential, dollar-cost averaging (DCA) during these corrections might also be a viable approach.
Final Thoughts: To Buy the Dip or Wait for More Downside?
BNB’s current chart setup suggests that more downside is possible, especially given the lack of volume and the strong bearish signals on the MACD. However, if the coin can reclaim the $580-$590 range, a bullish reversal might be on the horizon. For now, cautious optimism is the key.
What do you think? Will BNB recover soon, or is there more pain ahead? Share your thoughts in the comments and be sure to follow for more crypto updates! 🚀📊
#BNB #CryptoTrading #Altcoins #Binance #MACD