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Binance Coin Price Prediction – Can BNB Reach an All-Time High Soon?         

Binance Coin Price Prediction – Can BNB Reach an All-Time High Soon?         

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Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase!

The price of Binance Coin is up a little over 10% this week after a mid-week crypto rally. The native exchange token is the fourth largest cryptocurrency with a market capitalization of $48 billion.

More than a billion dollars have been exchanged across the board in 24 hours. At the time of writing, BNB is dodging $296 while facing mounting resistance at $310. A break and hold above this level could quickly push BNB above $350 and potentially pave the way for a $400 profit.

BNB/USD Price Chart
BNB/USD Price Chart

Binance pledges extra $1 billion to industry recovery fund

Binance CEO Changpeng Zhao (CZ) announced yet another billion USD worth of BUSD to the newly established Industry Recovery Fund (IRI). Initially, the exchange led a billion-dollar initiative that was open to other investors.

Aptos Labs and Jump Crypto were among the first companies to express interest in the Binance-led IRI. IRI now has $2 billion to start operations after CZ confirmed a $1 billion increase on Friday. The fund focuses on buying distressed cryptocurrencies after the collapse of FTX.

PeckShieldAlert, a platform that monitors the movements of large sums of cryptocurrency, confirmed in a post on Twitter that the “Binance 7” address dedicated to IRI has more than a billion tokens.

Binance Coin Price Prediction As BNB Closes To Uptrend Confirmation

The downward trend of Binance Coin prices has continued since the beginning of the year. Trend analysis shows that its movement was limited below the 1st trendline as highlighted on the daily chart until BNB stepped above it in late October.

Bulls also cleared the resistance provided by the 50-day exponential moving average (EMA) (in red), the 100-day EMA (blue) and the 200-day EMA (purple). As buyers on the sidelines joined the market, BNB briefly crossed the $350 mark before hitting a wall at another downtrend line.

The FTX explosion triggered a massive selloff that left no stone unturned in the crypto market. The declines wiped out any gains made in October, forcing BNB to retest July levels at $250.

BNB/USD daily chart
BNB/USD daily chart

The price of Binance Coin is trading at $296 after trying to break through resistance at $300 during Wednesday. As the uptrend is yet to be confirmed, the consolidating support at $288 is crucial in pointing BNB to the upside. The 50-day EMA and the 100-day EMA are increasing buyers’ congestion at this level.

The Moving Average Convergence Divergence (MACD) buy signal assures investors that BNB’s uptrend can be temporarily halted. A break and hold above the average (0.00) invites more buyers into the market. As demand builds behind BNB, a recovery path emerges to ensure the price moves above the 200-day EMA resistance at $310.

Above the second trendline, price action is required to confirm BNB’s upside prospects ahead of another sustained move, not only above $400, but to its all-time high of $686.

Some BNB whales have taken advantage of the November pullback to fill their bags. Santiment’s on-chain distribution metrics reveal an increase in 10,000-100,000 BNB addresses from 186 on November 2nd to 190 on November 25th.

During the same 30-day period, the cohort that held 1 million to 10 million tokens had one whale increase from 10 to 11. If this kind of use of BNB tokens continues, the buying pressure will eventually overcome the headwinds for the massive northward move.

Binance Coin Supply Distribution
Binance Coin Supply Distribution

Consideration should be given to pre-sale to diversify the portfolio

The Binance Coin price has long-term growth potential, but investors can consider future crypto projects with strong fundamentals to go public. All three tokens listed below are currently in the pre-sale stage, meaning investors can catch the trend early when it starts.

Dash 2 Trade (D2T)

This is a smart cryptocurrency platform that helps traders make smart trading decisions. Dash 2 Trade supports investors by providing access to buy/sell opportunities. A strategy builder has also been introduced, where users can create and implement new strategies in relation to the ever-changing crypto space.

D2T is an ERC-20 token of the Ethereum network that will be used to power this new ecosystem. While Dash 2 Trade has a free tier membership, users can subscribe to the starter and premium tiers by paying 400 D2T and 1,000 D2T tokens.

Visit Dash 2 Trade now

RobotEra (bread)

This is a sandbox-style metaverse project consisting of various resources as part of a virtual world. Plots and robot characters are sold to users after pre-sale. The activities of the Metaverse project include, among other things, the mining of TARO, the construction of digital buildings and the creation of games.

RobotEra hopes to bridge the gap between real users and metaverses with a codeless process. This means that all users can participate in the virtual world, regardless of their experience.

1 TARO is currently sold for 0.020 USDT (it can be bought with either USDT or ETH), although this price will increase to 0.025 USD in the second phase of its pre-sales, which will start soon.

Visit RobotEra now

Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase!

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