Binance Coin (BNB) Likely To Hit $40 than Drop to $15
BNB prices stable but can expand to $41
Binance fundamentals supportive for BNB
Institutional Trade Volume Hits Local High as Bitcoin Jumps over $7,000
Friday April 03, 2020
Futures linked to the bitcoin market experienced a spike in their volumes this Thursday as the cryptocurrency’s spot rate broke above $7,000. Crypto statist Skew highlighted that trading activity on CME’s and Bakkt’s bitcoin...
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With the launch of Binance chain and Binance DEX, Binance Coin (BNB) could benefit from increasing demand as Binance is one of the few trusted exchanges according to OpenMarketCap. Thus far, it is ranging with support at $20.
Binance Coin Price Analysis
Simply put, Binance Coin (BNB) is a loyalty coin. Operating from the world’s largest exchange by adjusted volume, Binance, which is less than three years, the coin is a top performer increasing by triple digits in the last five months.
From a fundamental and technical point of view, the coin would likely add more in the coming months if not years. Much has been said about the launch of their DEX and how successful it is. But before succeeding where others are struggling in, Binance must prove that there is sufficient liquidity and is fast enough. That would avert algorithmic trading exploitation while a complementing UX would attract new users confident on security and control of their asset.
Because BNB is the native currency whereby use confers advantages, operation from Binance, Binance DEX and demand from all listed projects willing to raise funds from their Launchpad is overly bullish for the coin. Investor demand is perhaps one of the reasons why Binance Coin is now available in three exchanges including Livecoin. Combine that with quarterly coin burns and FOMO; it’s easy to be confident on the coin.
Surging Demand and Seized Supply Spark Rapid Growth in Tether’s Digital Gold
Thursday April 02, 2020
As fears over the coming economic recession continue to mount, demand for gold continues to surge. And as mining operations have frozen due to the coronavirus outbreak, there’s a recipe for dwindling supply that...
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Back to price and after a parabolic rise, Binance coin (BNB) is cooling off. Ranging within a $6 zone with supports at $20—the middle BB and $26, bears seem to be back. Of note is the doubling of price, the inevitable overpricing of Apr-20 and then current correction.
Even so, bulls are in control, and as every dip is another loading opportunity printing out in a clear uptrend, any drop below $20 would temporarily allow sellers to dominate. In that case, it is likely that BNB will hit $16.
On the flip side, any high volume gain blasting above $26 would trigger another wave of higher high that would see BNB test $41 or the 161.8 percent Fibonacci extension level of the coin’s high low.
Down 2.8 percent in the last day, guiding Binance Coin price action is Apr-19, a wide-ranging bar, confirming gains of the week ending Apr-6. Since buyers are in charge, effort versus reward analysis indicates that any surge above $26 should preferably be with transaction volumes exceeding averages of 2.5 million and most importantly, 3.7 million of Apr-19.
Chart courtesy of Trading View
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Bitcoin Whale: World is in for “Biggest Economic Shock” in Generations
Friday April 03, 2020
It feels as though the past couple of months have marked the end of an era, and one prominent Bitcoin whale is now noting that he believes the world is about to incur one...
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