BNB Price Watch: The Charts Look Good For Traders – More Green On The Plate?
28 Septembre 2022 - 10:06AM
NEWSBTC
BNB price (Binance Coin) has been in the green lane for quite some
time and on top of that, it also leads the crypto market scene in
terms of market cap. More so, BNB has also registered a weekly gain
of 6%. Binance Coin registered a weekly
gain of 6% BNB development improved
investor interest BNB shows stunted
social metrics BNB is also tagged as one of the top five
cryptocurrencies as far as search volume is concerned. While the
coin was also to beat other cryptos, BNB has plummeted in price by
1.6% compared to its data on September 25, trading at roughly
$275.42. Evidently, BNB was able to make it to the cut of the top
cryptocurrencies that made a bull run when paired with BTC. Binance
Coin developments have stirred investor interest which also
positively impacted the on-chain metrics of BNB. Related Reading:
Polkadot Price Watch: What A Drop In This Key Area Can Mean For
DOT? BNB Price Up By Nearly 3% According to CoinMarketCap, BNB
price has soared by 2.98% or trading at $275 as of this writing.
Total market capitalization is currently at $43.5 billion, data
from TradingView show. BNB’s volume looks stabilized which dampens
any possibility of price drops. The MVRV ratio of BNB is said to
have increased in comparison to last week’s figures which hints at
the probability of an uptrend in the coming days. On the other
hand, some of BNB’s on-chain metrics hint at negative sentiment
such as the decrease of unique active wallet addresses which hints
at the reduced user activity on the Binance Coin Network. In
addition, BNB’s social volume also dropped which shows a
significant decline in investor interest. Binance Coin’s volatility
level has also plunged which is derailing the coin from going
further up. BNB’s daily chart is showing a bullish streak with
various market indicators validating the potential of an uptrend.
BNB’s RSI, CMF Show Likelihood Of Uptrend Chart: TradingView.com
More so, Bollinger Bands show that the Binance Coin price is in an
overbought zone thus increasing the potential of a breach. RSI and
CMF for Binance Coin have shown the possibility of having an uptick
in the coming days. So far, the MACD stats show that after a
rigorous tug of war, the bulls are coming through stronger than
ever. Many crypto experts and analysts are optimistic about the
future of BNB. Joseph Raczynski, a technologist, believes in the
propensity of BNB to soar. The futurist is bullish on BNB mainly
due to the fact that Binance is getting bigger each day. In
general, the crypto market is remarkably optimistic about BNB so
much so that the SEC feud cannot hurt its price traction. Related
Reading: Aave Price Action: Bearish Pull Forces AAVE To Resist Drop
To $74 Level BNB total market cap at $43.5 billion on the daily
chart | Source: TradingView.com Featured image from AAX Academy,
Chart: TradingView.com
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