Cryptocurrency

What to expect from the token BNB of Binance?

The price of Binance Coin continues to increase for almost 3 consecutive months, thus showing an expectation bullish for the short term. But, what can we expect from the token BNB for the next week? See below the analysis we have prepared.

Analysis of the token Binance

Taking into account the growth of the company Binance, and its extensive relationship with the development of the BNB, is quite clear, the origin of the good performance that has had this token during the current quarter.

From January 2019 the price of token Binance has remained in constant increase. And despite the sharp drop experienced in march, all of that loss was erased in its entirety.

A recent analysis by Picolo Research, predicts an increase for the short/medium term, of a 45%, which means the scope of the USD 30,11.

This projection is based on the growth of the company Binance, the increase of utility value and demand of BNB thanks to Launchpad, increased commercial activity in the exchange, percentage increase of the quarterly earnings, and the increase of the divergence of movements between the token of the Binance and the 2 largest, BTC and ETH.

As well as this, several analysts agree, with a projection upward for the token, thanks to the powerful fundamentals that you do have an important intrinsic value.

In this way, we can expect that to be the purchases that generate revenue in the short term. Then we will see the possible areas of entry, taking of profit and loss, using technical analysis.

What to expect from the token Binance for the next week

If we look at the temporality weekly, there is still a force bassist ruling that has not been wrapped. However, a large part of it has been consumed, the product of the profits that it has generated BNB in the last 3 months.

The EMA and 8 SMA 18 are crossed to the downside, but each time closer, so a break of resistance at USD 18,135 will give signals bulls.

The break of this resistance will also leave the field free to a next zone of supply around USD 24,5, this if we consider only the weekly chart.

For an overview bearish, less likely, the support at $ 15 should be crossed.

Technical analysis of the weekly chart BNB USDT. Source: TradingView.

Temporality daily

Recently, it rejected the resistance at USD 18.135. But according to the succession bullish, supported by the EMA and 8 SMA for 18 days, it is expected that the token BNB achieves to overcome this barrier next week.

The break of this level will likely lead to a volatile impulse, where the nearest target will be the area of supply around USD 21,4.

The SMA of 200 days is also bullish today, supporting the gains that have been generated in the last few months.

What to expect from the token Binance for next week?. Technical analysis of the chart BNB USDT. Source: TradingView.

All our publications are of an informative nature and in no case should be followed as the advice of investment.

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About the author

Belinda Carey

Belinda Carey

A finance girl by education, Belinda has been drawn to cryptocurrencies ever since Bitcoin first emerged in the 2009. Nearly a decade later, Belinda is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies.

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