The Market Capitalization of Binance Coin (BNB) Has Exceeded $ 100 Billion! What Are the Price Expectations?

0
25

Binance Coin (BNB), whose market value has exceeded $ 100 billion for the first time since May, continues its rise. BNB, whose market value has reached $102 billion, is finding buyers at $611 at the time of writing. What are the short- and medium-term goals for BNB, which has not yet reached the ATH point of $ 108 billion?

Binance Coin (BNB) Has Exceeded $ 100 Billion

The price is new, reaching $ 694 in May ATH the point was committed. Conducted every quarter BNB their burning is aimed at stabilizing the circulating supply. At the same time, this shortage and growing demand are triggering the rise in price. A short while ago BSC Binance, which has announced $1 billion worth of support to support its network, is also growing its own ecosystem.

Binance Coin with a maximum supply of 166 million (BNB) it reduces this somewhat every quarter. The company, which has recently made its 17th burn, will make its 18th token burn at the beginning of January.

Wishing to win the sympathy of regulators Binance he takes a leading role in many issues. The initiative worth 100 million euros, launched in France, and the desire to track down Squid Game scammers are reflected in the stock market’s digits as plus points.

Binance Coin (BNB) Price Analysis

The current price is holding above $ 605, which means that we can reach a new target of up to $ 710. The RSI is close to the overbought zone, but still at a neutral level, Binance if he detonates a new bomb, he’ll have done it just in time.

Momentum and MACD positive and moving averages support the bullish expectation. Although the ADX is neutral, the rise may continue. The price, which clings to the Simple Moving Average above 100, may make new surprises later. The dish formation on the daily chart has been raising the possibility of a decline for several days, but the rising price along with the latest news has negated them. BNB he will try to break the resistance in the 620-635 region, respectively, if successful, he will turn to the 678 and 694 resistors, which are the current ATH points. In a possible turnaround, the 560 and 527 supports are critical, and short-term investors will also closely monitor the $600 psychological support zone.

You can follow our news on our Telegram channel, Instagram, Facebook, Twitter accounts and Youtube channel.