There is a huge possibility that crypto exchanger Binance will be a new owner of the bankrupt crypto lender Voyager Digital. This comes after the failed takeover of the company by FTX, who also filed for bankruptcy. At the same time the CEO of Binance announced that the company formed a fund of $1B with the aim to support troubled crypto companies during the crypto winter. So, further acquisitions on the market seem quite possible. This was the major news on the market during the previous week, which supported BNB to increase its market cap by $6B and move its price to the level above the $300 resistance line.
BNB started the previous week at a $250 support line, however, during the whole week the price was in green territory. Positive news pushed the coin to higher grounds, ending the week by testing the $300 resistance line. From this point, the question is how far is the price of $400? RSI was also reflecting a positive investor mood, moving from 36 up to 58. This shows that the market is currently eyeing the overbought side. Moving averages of 50 and 200 days still continue to move as two parallel lines after making a golden cross at the beginning of November.
The price of BNB was strongly supported by the positive news from Binance. It might be expected to be so in the coming period. The moment to watch would be a final announcement from the company that it actually took over Voyager Digital. It will be a significant booster to the price of BNB, where it might go as high as $400. However, at this moment, more realistic would be a $350 short resistance line. BNB will start a week ahead by testing a $300 support line. In case of a short reversal, the price might go down to the level of $280. On the opposite side, there is an equal probability that the price might reach the highest level around $330.
BNB started the previous week at a $250 support line, however, during the whole week the price was in green territory. Positive news pushed the coin to higher grounds, ending the week by testing the $300 resistance line. From this point, the question is how far is the price of $400? RSI was also reflecting a positive investor mood, moving from 36 up to 58. This shows that the market is currently eyeing the overbought side. Moving averages of 50 and 200 days still continue to move as two parallel lines after making a golden cross at the beginning of November.
The price of BNB was strongly supported by the positive news from Binance. It might be expected to be so in the coming period. The moment to watch would be a final announcement from the company that it actually took over Voyager Digital. It will be a significant booster to the price of BNB, where it might go as high as $400. However, at this moment, more realistic would be a $350 short resistance line. BNB will start a week ahead by testing a $300 support line. In case of a short reversal, the price might go down to the level of $280. On the opposite side, there is an equal probability that the price might reach the highest level around $330.
