The BNB price has not changed to a large extent this week as it was absent from the last Crypto market. Binance Coin has been traded at $ 655 on Saturday, within a scope in which it has remained over the past few months. However, as our analysis shows, there is a possibility that this monotheism is calm before the storm before the main return in the next few months.
Technical analysis of the BNB price
The weekly graph shows that the price of the Binance currency has been in a unification phase in the past few months. It has been stuck between support and resistance levels at $ 495 and $ 750 since March last year.
This monotheism was according to the design, as the currency is in the process of forming the handle section in the cup and processing style. Historically, this style was one of the most pattern in the market.
The pattern begins when the original finds the powerful bull race initial resistance and begins to decline gradually. In the end, the original is a round pattern, begins to rise again and re -test the first resistance level, and the completion of the cup section.
The other section is known as the handle, and usually includes monotheism or withdrawal. This monotheism may take a few days, or more than a year. Ideally, if the pattern is on the weekly or monthly chart, there is a possibility that it takes time to complete it.
The target price in the C&H style is determined by measuring the depth of the cup first, then measuring the same distance from the upper side. In the case of BNB, the depth is 70 %. Measuring the same distance from $ 660 brings the goal at $ 1122.
The first BNB price will be the highest level in December of $ 748, followed by the psychological level at $ 1,000. Step higher than this level will indicate more gains, and perhaps to the target point at $ 1,122.
The warning of this PNB prediction is that, as mentioned above, depends on the weekly graph, which means that its goal may take time to work. The decrease under support at $ 495 will nullify the upcoming expectations.
Read more: Bitcoin prediction: Why may the BTC mutation just start a boom
The best incentives for the Binance currency price
The BNB price has many stimuli that you may push much higher in the coming months. First, it is one of the most distinctive symbols in the encryption industry. This is achieved through the distinctive code burns.
The first burning comes from the regular fees created from the BSC series. This approach usually burns about 750 BNB symbols, currently estimated at about $ 500 in a week, and burned the distinctive symbols of $ 171 million since its inception.
Another approach is a quarterly approach and is based on the price of BNB and the resulting blocks in the quarter. This approach burns symbols that exceed one billion dollars in a quarter, making it a very contraction chain.
Moreover, the BSC series places itself as the best alternative to Solana and Ethereum. Solana is famous for crowding, while Ethereum has high fees. BSC does this through regular updates. It has already implemented PASCAL and Lorentz, and is now preparing to upgrade the upcoming MaxWell that would reduce the time of the mass to 0.75 %.
The BNB price will benefit from the continuous continuous flow, a sign that investors are optimistic about it. Investors added a $ 90 million code at the last 30 days.
Moreover, the BNB price will benefit if SEC agrees on the circulating investment funds presented by Vaneck, the director of the United States.
Read more: 4 reasons The price of Benance BNB will rise to $ 1,000 soon
Post -BNB Prices Analysis: Quiet before the Storm of the Binance coin first appeared on Invezz
