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All you need to know for $BNB + Technical Analysis
Hey Folks, we know $BNB is like a pure gold, so many use cases here. We all know that $BNB plays important role in all #Binance Products like Binance Launchpool, Binance Megadrop, Binance Airdrops HODLer, etc...I have many articles on my profile explaining how to take the best advantages of $BNB
I'll give you a small brief about $BNB and why I think is has super bright future but first let's talk about the chart!
Technical Analysis
$BNB
Still in a range. Currently is forming very bullish monthly candle( bullish pin bar). Once the range is resolved is expected to take new highs at around $770.
Against $BTC trading at range low most likely next target middle range and range high. There is room for an upside.
Price action is above the weekly EMA ribbon which indicates Bull Market on the weekly time frame.
Interesting fact:
On May 11, 2024, BNB was the fourth-largest cryptocurrency by market capitalization, behind only Bitcoin, Ethereum, and USD Tether. That's pretty impressive right š„
Binance Coin Burning
Every quarter, Binance uses one-fifth of its profits to repurchase and permanently destroy (or "burn") BNB held in its treasury. Binance has regularly performed these burning events. The previousBNB burn as of May 2024 was on April 24. Binance burned a total of 1.94 million BNB, equivalent to $670.78 million. It was Binance's 27th quarterly BNB burn.
And a bit before I wrote this was the lastest 28th burn!
Here are the facts and figures from the latest burn:
Auto-Burn (Total BNB burned): 1,643,698.8 BNB
Approximate value in USD around the time of burn: ~$971M
$BNB price eyes return to 2024 peak of $721.80
Binance Coin (BNB) trades around $585 at the time of writing. Binance Coin is likely to extend gains by 24% and revisit 2024 peak of $721.80, seen previously on June 6.
Binanceās native token could face resistance at $588, $664 and $677, the 50% and 78.6% Fibonacci retracement of the decline from June 6 top of $721 to July 5 low of $454, and the upper boundary of the Fair Value Gap (FVG) respectively.
The momentum indicator, Moving Average Convergence Divergence (MACD) supports a recovery in BNB, it indicates positive underlying momentum in Binance Coinās price.
BNB could find support at July 16 low of $554, and $517.80, the 23.60% Fibonacci retracement level of the mentioned decline.
At the end this is all technical analysis. For me the future trend of $BNB will be only up and up and up! I'm pretty bullish on it because there is not other Coin out there with so many utilities and benefits for Holders like #BNBToken
Frequently Asked Questions
Is BNB a good investment?
The forecast for BNB price is quite positive. It is expected that BNB price might meet a bull trend in the nearest future. We kindly remind you to always do your own research before investing in any asset.
Can BNB rise?
In five-year plan perspective, the cryptocurrency could probably rise up to $2,425.76. Due to price fluctuations on the market, please always do your research before invest money in any project, network, asset, etc.
How much will BNB be worth 2025?
BNB network is developing rapidly. BNB price forecast for 2025 is rather positive. The BNB average price is expected to reach minimum and maximum prices of $1,088.89 and $1,294.87 respectively.
How much will BNB be worth 2030?
BNB is provided with suitable environment to reach new heights in terms of price. BNB price prediction is quite positive. Business analysts predict that BNB might reach the maximum price of $8,254.17 by 2030. Please take into account that none of the data provided above is neither fundamental analysis nor investment advice. None of the information provided is $6,883.31
Will BNB go up?
According to the presented price predictions and recent price rise, Binance coin cryptocurrency can definitely go up a lot more in the future.
Is BNB worth buying?
Definitely. Not only as an internal currency of Binance exchange but as an investment option too, since the price of the coin is rising.
Where do I buy Binance Coin?
The most obvious answer is the Binance exchange. And of course all others TOP CEXs and DEXs!
#technical_analysis
I'll give you a small brief about $BNB and why I think is has super bright future but first let's talk about the chart!
Technical Analysis
$BNB
Still in a range. Currently is forming very bullish monthly candle( bullish pin bar). Once the range is resolved is expected to take new highs at around $770.
Against $BTC trading at range low most likely next target middle range and range high. There is room for an upside.
Price action is above the weekly EMA ribbon which indicates Bull Market on the weekly time frame.
Interesting fact:
On May 11, 2024, BNB was the fourth-largest cryptocurrency by market capitalization, behind only Bitcoin, Ethereum, and USD Tether. That's pretty impressive right š„
Binance Coin Burning
Every quarter, Binance uses one-fifth of its profits to repurchase and permanently destroy (or "burn") BNB held in its treasury. Binance has regularly performed these burning events. The previousBNB burn as of May 2024 was on April 24. Binance burned a total of 1.94 million BNB, equivalent to $670.78 million. It was Binance's 27th quarterly BNB burn.
And a bit before I wrote this was the lastest 28th burn!
Here are the facts and figures from the latest burn:
Auto-Burn (Total BNB burned): 1,643,698.8 BNB
Approximate value in USD around the time of burn: ~$971M
$BNB price eyes return to 2024 peak of $721.80
Binance Coin (BNB) trades around $585 at the time of writing. Binance Coin is likely to extend gains by 24% and revisit 2024 peak of $721.80, seen previously on June 6.
Binanceās native token could face resistance at $588, $664 and $677, the 50% and 78.6% Fibonacci retracement of the decline from June 6 top of $721 to July 5 low of $454, and the upper boundary of the Fair Value Gap (FVG) respectively.
The momentum indicator, Moving Average Convergence Divergence (MACD) supports a recovery in BNB, it indicates positive underlying momentum in Binance Coinās price.
BNB could find support at July 16 low of $554, and $517.80, the 23.60% Fibonacci retracement level of the mentioned decline.
At the end this is all technical analysis. For me the future trend of $BNB will be only up and up and up! I'm pretty bullish on it because there is not other Coin out there with so many utilities and benefits for Holders like #BNBToken
Frequently Asked Questions
Is BNB a good investment?
The forecast for BNB price is quite positive. It is expected that BNB price might meet a bull trend in the nearest future. We kindly remind you to always do your own research before investing in any asset.
Can BNB rise?
In five-year plan perspective, the cryptocurrency could probably rise up to $2,425.76. Due to price fluctuations on the market, please always do your research before invest money in any project, network, asset, etc.
How much will BNB be worth 2025?
BNB network is developing rapidly. BNB price forecast for 2025 is rather positive. The BNB average price is expected to reach minimum and maximum prices of $1,088.89 and $1,294.87 respectively.
How much will BNB be worth 2030?
BNB is provided with suitable environment to reach new heights in terms of price. BNB price prediction is quite positive. Business analysts predict that BNB might reach the maximum price of $8,254.17 by 2030. Please take into account that none of the data provided above is neither fundamental analysis nor investment advice. None of the information provided is $6,883.31
Will BNB go up?
According to the presented price predictions and recent price rise, Binance coin cryptocurrency can definitely go up a lot more in the future.
Is BNB worth buying?
Definitely. Not only as an internal currency of Binance exchange but as an investment option too, since the price of the coin is rising.
Where do I buy Binance Coin?
The most obvious answer is the Binance exchange. And of course all others TOP CEXs and DEXs!
#technical_analysis
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content.Ā See T&Cs.
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