BNB, BNB could hit $448.23 in 2023
BNB’s price prediction for the most bearish scenario will value BNB at $194.61 in 2023
BNB’s previous All Time High was on 10th May 2021 where BNB was priced at $686.31
BNB’s price at the same time last week was $231.07. It has moved by 0.77% in the past week and is currently at $243.26. Infact, in the past 24 hours, BNB has pumped by 0.32%. There is a slight bearish sentiment in the crypto market. The long term sentiment, however, remains bullish and BNB could hit $475.81 in 2024.
The total circulating supply of BNB as of writing this article was $155,855,196 and the marketcap of BNB remains at $37,914,395,267.
However, Binance’s legal battle isn’t over just yet. The US SEC is seeking restraining orders to freeze Binance’s assets. Although the exchange has asked the court to deny the restraining order, the ongoing showdown could further affect BNB’s value.
The weekly timeframe chart showed that BNB’s plunge has hit June/December 2022 lows. During the December 2022 FUD (fear, uncertainty, and disinformation) around Binance’s proof of reserves, BNB tanked to $220.
The $220 level aligns with a bullish order block (OB) of $206 – $243 (cyan) on the weekly chart formed on 27 June 2022. In addition, it coincides with the range low of a parallel channel (blue) and the 200-MA (Moving Average).
So, it could make the $206 – $243 zone (cyan) a strong bullish stronghold. Unfortunately, it could crack if Binance’s legal woes worsen in the next coming days/weeks. A drop below the confluence area could ease at $184 or $118.
Conversely, BNB could attempt to reverse the losses and target the mid-range ($293) if the demand zone doesn’t crack. The level also aligns with the 50-MA.
In the meantime, the RSI (Relative Strength Index) flattened in the lower range – suggesting selling pressure eased. Similarly, the CMF (Chaikin Money Flow) moved sideways slightly above the zero mark – denoting capital outflows from BNB subsidized.
A break above 359 and creating bullish pa HH and HL is the start of a bullish trend
BNB’s price prediction for the most bearish scenario will value BNB at $194.61 in 2023
BNB’s previous All Time High was on 10th May 2021 where BNB was priced at $686.31
BNB’s price at the same time last week was $231.07. It has moved by 0.77% in the past week and is currently at $243.26. Infact, in the past 24 hours, BNB has pumped by 0.32%. There is a slight bearish sentiment in the crypto market. The long term sentiment, however, remains bullish and BNB could hit $475.81 in 2024.
The total circulating supply of BNB as of writing this article was $155,855,196 and the marketcap of BNB remains at $37,914,395,267.
However, Binance’s legal battle isn’t over just yet. The US SEC is seeking restraining orders to freeze Binance’s assets. Although the exchange has asked the court to deny the restraining order, the ongoing showdown could further affect BNB’s value.
The weekly timeframe chart showed that BNB’s plunge has hit June/December 2022 lows. During the December 2022 FUD (fear, uncertainty, and disinformation) around Binance’s proof of reserves, BNB tanked to $220.
The $220 level aligns with a bullish order block (OB) of $206 – $243 (cyan) on the weekly chart formed on 27 June 2022. In addition, it coincides with the range low of a parallel channel (blue) and the 200-MA (Moving Average).
So, it could make the $206 – $243 zone (cyan) a strong bullish stronghold. Unfortunately, it could crack if Binance’s legal woes worsen in the next coming days/weeks. A drop below the confluence area could ease at $184 or $118.
Conversely, BNB could attempt to reverse the losses and target the mid-range ($293) if the demand zone doesn’t crack. The level also aligns with the 50-MA.
In the meantime, the RSI (Relative Strength Index) flattened in the lower range – suggesting selling pressure eased. Similarly, the CMF (Chaikin Money Flow) moved sideways slightly above the zero mark – denoting capital outflows from BNB subsidized.
A break above 359 and creating bullish pa HH and HL is the start of a bullish trend
Comment:
trade is open