Binance Coin is a cryptocurrency token created by the Binance platform. Binance Coin Price Analysis $320 is a cryptocurrency analysis blog that provides a daily Binance Coin Price Analysis and forecast to help traders and investors to make a smarter decision.
The Binance Coin (BNB) has been one of the most interesting projects in the cryptocurrency world. The BNB is a utility token that works as a loyalty reward in the Binance exchange. The BNB is used to pay for fees on the Binance exchange, but also to pay for other fees on Binance, such as listing fees and withdrawals. Another use of the BNB is to pay for listing fees for other exchanges.
Binance Coin or BNB is a cryptocurrency, a peer-to-peer digital currency based on the blockchain technology. The Binance Coin is the native coin of Binance Coin, a blockchain ecosystem comprised of a social network, marketplace, and exchange. The Binance Coin is Binance’s main currency, and it is used to settle transactions on the Binance Decentralized Exchange (DEX).. Read more about binance coin price history chart and let us know what you think.
Summary of the situation
Binance’s coin price analysis shows that BNB is recovering from the $320 mark.
Binance Coin’s price recovery is encountering a resistance level at the 100-day moving average.
The main technical indicators are giving bearish signals.
BNB faced a significant price divergence towards the $430 level during the last trading session. The negative price movement has outpaced the positive movement of the coin price after the recent decline in May. During the sharp decline, BNB ended up at around $210. As selling pressure intensifies, BNB bulls appear to be focusing on securing a strong support zone around $380 and $400.
Price analysis of financial documents Price Overview
Major news outlets have recently reported that the People’s Bank of China has decided to accelerate its crackdown on crypto assets and related companies. The People’s Bank of China recently asked payment platforms and financial institutions not to conduct transactions with cryptocurrencies. The bank explained that cryptocurrencies have no real value and are highly vulnerable to speculation. The bank has also banned exchange platforms that offer crypto investors platforms to trade their crypto assets. Despite strict rules, the PBOC does not prevent individuals from holding crypto assets. As a result of the ban, Binance, OKex and Huobi are among the major cryptocurrency exchanges that have been blocked from major search engines in China. Since the ban, Binance Coin and other crypto assets have been battered to trade in the red. BNB is currently hovering around the $368 level, with a bearish haze looming over the crypto-currency around the 50 simple moving average resistance barrier. If Binance Coin fails to settle above $365, critical technical indicators will trigger an increase in sell orders. This will put the coin in the $300-$320 price range.
Binance currency price movements over the past 24 hours
Source: TradingView According to Binance Coin’s price action on the latest 24-hour chart, the cryptocurrency’s ascending triangle was lifted once the price action broke the lower trend line of the triangle. After this move, BNB lost about 13% of its recent gains and found support around $350. Although the 24-hour chart shows some buying pressure, it is likely that Binance Coin will experience another collapse.
4-hour chart of financial document
Source: TradingView According to the 4-hour chart, the SuperTrend indicator recently showed a sell signal. The SuperTrend indicator evaluates the trend of the cryptocurrency, taking into account its volatility. The sell signal appeared when the indicator’s overlap line was positioned above the price and its color changed from green to red. As for the MACD and RSI technical indicators, the MACD seems to give a bullish signal, while the RSI suggests that BNB is in a sideways trading phase. Despite mixed signals, a decisive close above $340 will give the cryptomonet a market gain. Furthermore, a consolidation above the 100% simple moving average would confirm the price rally towards $400.
Following the announcement that El Salvador has become the first country to adopt the number one crypto asset, bitcoin, as a means of payment, the cryptocurrency market is expected to recover. This could have a positive effect on Binance Coin and other cryptocurrencies. Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.Binance Coin (BNB), the native token of the Binance exchange, is on a significant bull run. With a current price of $ 320, it is now trading at over 70% gains from its recent low of $165. This is a huge turnaround for Binance Coin, which was trading at a price below $1 in December 2017. Binance Coin is up nearly 10,000% since the beginning of 2018. This is a big financial win for Binance, the leading cryptocurrency exchange. Binance, valued at $ 2.4 billion, is the fourth largest exchange in the world. As of this writing, Binance Coin is trading at a market cap of $ 4.9 billion.. Read more about binance coin price inr and let us know what you think.