• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
binance coin BNB
Nexo

Binance Coin Continues to Shine as Bitcoin Seeks Direction

Eustace Cryptus by Eustace Cryptus
3 years ago
in Altcoin News, Altcoin Price, Altcoins, Markets and Prices, News, News teaser, Trading
0
Advertisement

Binance Coin (BNB) continues to reach back to back 2019 all-time highs and its success has some analysts wondering if it will outperform Bitcoin over the long-term.


Market Overview

On Tuesday Binance Coin (BNB) [coin_price coin=binance-coin] notched a new all-time high of $32.43 as its market capitalization leaped over $4 billion.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

The 7th largest cryptocurrency by market cap has surged 16.46% over the past 48 hours, 36% over the past week, and 502% in 2019. Multiple timeframes show BNB is overwhelmingly bullish and everyone is wondering how high the altcoin can run.

Let’s have a look at the charts to see what the future could hold for BNB.

Binance Coin Price Analysis: 4-HR Chart

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

BNB continues to set higher highs and trades well above the ascending trendline that held since February. After reaching a new USD high at $32.43, BNB is taking a short breather to consolidate and the RSI has pulled back from 76 and currently descends below 66.

As seen on the 4-hour chart, BNB is clearly in a stair-step pattern and the process appears to be repeating itself as BNB consolidates to prepare for the next leg up.

At the time of writing the 4-hour MACD is crossed bearish and descending from overbought territory and it should also be noted that the daily MACD is the most extended it has been since January 2018 when BNB reached its previous all-time high of $25.13.

Over the short-term BNB could pullback to $30.80 and further to $29.86 where the 20-MA of the Bollinger Band indicator is located. A full retrace of Tuesday’s gains would bring BNB to $28.39 and this point also aligns with the ascending trendline which has not been broken since March 19.

BNB/USDT 1-Hour Chart

The 1-hour chart show BNB below the middle arm of the Bollinger Band indicator and as both bands tighten and the RSI descends below the ascending trendline, it’s possible that BNB could pullback to the levels mentioned above.

BNB/BTC Daily Chart

binance coin bnb

On Tuesday the BNB-BTC pairing also turned bullish as BNB set a higher low above the 12 and 26 EMA and the 12 EMA is on the verge of crossing above the 26EMA and the daily MACD is bullish and about to roll over 0.

Unarguably, BNB’s price action is being driven by successive IEOs paired with BNB and the new lottery system, which requires applicants and participants to hold a predetermined amount of BNB.

Surely the upcoming Harmony IEO on May 27, the launch of Binance DEX and recent announcements like this one from Binance CEO Changpeng Zhao are supporting BNB’s rapacious advance to new all-time highs.

[Disclaimer: The views expressed in this article are not intended as investment advice. Market data is provided by Bitfinex. The charts for the analysis are provided by TradingView.]

Trade Bitcoin, Litecoin and other cryptocurrencies on online Bitcoin forex broker platform evolve.markets.  


Images courtesy of Shutterstock, Trading View. Market data sourced from Coinbase

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Eustace Cryptus

Eustace Cryptus

Educator by day, crypto zealot at night. I scour charts, swing trade & ponder blockchain’s ability to transform cities, commerce and the entire banking system as we know it!

Related Posts

Warba Bank

Warba Bank Becomes 1st Islamic Lender To Enter The Metaverse

18 hours ago
Sango, President Faustin-Archange Touadéra

The Central African Republic Unveils Sango Project, Disappoints The World

23 hours ago
Legal Experts Reveal Regulatory Uncertainty Around Crypto Could Spike Lawsuits

Legal Experts Reveal Regulatory Uncertainty Around Crypto Could Spike Lawsuits

3 days ago
Cryptoqueen

‘Cryptoqueen’ Has A $100,000 Bounty On Her Head Offered By The FBI

4 days ago
Three Arrows

Three Arrows Capital Gets Notice Of Default On $660 Million Voyager Loan

1 week ago
Morgan Creek

Morgan Creek Said To Be In Bid To Secure $250-M To Counter FTX BlockFi Bailout

1 week ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.