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BNB Price Prediction As Binance Coin Hits New ATH

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3 months ago

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BNB price has surged significantly over the past month, reaching a new all-time high (ATH). This remarkable rally coincides with the broader cryptocurrency market’s bullish momentum, driven by Bitcoin’s climb above $100,000. Despite a slight market correction, Binance Coin is resilient and positioned above key support structures to achieve new highs if bullish sentiment persists. 

BNB Price Prediction: What’s Next for Binance Coin?

Binance Coin (BNB) price has recently broken its previous all-time high of $793, showcasing remarkable resilience and strong investor confidence. On December 4, 2024, BNB reached a historic peak before experiencing a slight correction, currently down by 13%. However, the token’s ability to turn its prior resistance level into solid support underscores significant demand in the market.

This bullish development suggests BNB may be gearing up for its next upward movement. Historically, such breakouts followed by support retests often trigger fresh buying momentum. Investors may anticipate a potential price bounce, setting the stage for another rally to higher price levels.

Source: Tweet

BNB Technical Analysis

The price of BNB is currently trading between two crucial levels. The first level is the 2021 all-time high (ATH) of $691, and the second is the recent ATH of $793. These levels serve as significant support zones for the coin’s price movement. At the time of writing, the Binance price is trading at $684, with a dip of 6% in the last 24 hours.

If the price bounces off these support levels, it often triggers a rally. The rally could aim for three key targets based on Fibonacci extension levels. The first target is the Fibonacci 161.8% level at $737, which has already been reached and tested. 

The second target is the Fibonacci 261.8% level at $886, marking the previous ATH. The third and final target is the Fibonacci 361.8% level at $1,036, which represents the next potential upside milestone. If the ongoing bullish run continues, a surge in the crypto market may fuel the surge in the token.

The MACD indicator is showing bullish momentum. The histogram displays increasing green bars, signaling growing buying pressure. The RSI is currently positioned above 56, suggesting that the coin is in bullish territory but not yet overbought.

BNB price chart By TradingView

On the downside, a break below the $645 support level could invalidate the bullish outlook. Such a breakdown could result in a sharp correction, possibly driving the price by lowering by 22% to $495. This move would represent a significant decline and a bearish shift in market sentiment.

Binance Coin’s recent ATH highlights strong market confidence. BNB’s trajectory depends on maintaining key support levels and bullish momentum, with potential upside targets to hit ATHs.

Frequently Asked Questions (FAQs)

BNB’s latest ATH is $793, reached on December 4, 2024.

Key support levels are $691, $793, and $645.

A bounce off support levels and bullish momentum can trigger a rally.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Binance

Kanye West’s Token Launch Chat with Binance Founder CZ Sparks $4B Rebound Within Hours

Published

3 weeks ago

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February 23, 2025

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Binance Coin (BNB) price spiked 5% on Feb 22, fueled by speculation following a chat between billionaire music artist Kanye West and Binance founder Changpeng Zhao. The interaction triggered a $5 billion capital inflow within hours.

Binance Coin (BNB) Price Surges 6% amid Kanye West and CZ Chats

Binance exchange native coin BNB has been subject to intense market volatility in recent days. Within hours of the Bybit exchange hack, Binance transferred 50,000 ETH to provide emergency support and liquidity for user withdrawals, which successfully helped ease panic and avoid systemic risks.

BNB Price Action, Feb 22, 2025 | TradingViewBNB Price Action, Feb 22, 2025 | TradingView
BNB Price Action, Feb 22, 2025 | TradingView

BNB price made rapid 6% recovery from Friday’s shock sell-off, as Billionaire rapper and fashion entrepreneur Kanye West, known for his controversial online statements, made enquiries about launching a new crypto project and called Changpeng Zhao’s attention in his latest series of cryptic posts on X (prev. Twitter).

Kanye West’s Token Launch Enquiry with CZ Sparks Intense Speculation

Kanye West, recognized for his unpredictable ventures in music, fashion, and politics, took to social media on February 22 to discuss cryptocurrency. In a series of posts, he shared screenshots of private messages debating whether to launch his own blockchain rather than simply creating a meme coin.

West reposted a message from Mikey Shelton stating, “You are the brand. Whatever it is will do well. Some things are better than others. It’s about who you trust.” This suggested that West is considering a serious blockchain project rather than jumping onto meme coin trends. Another post showed a conversation with Edward, who advised him: “Using Cardano as an example, they had the Cardano token, a wallet system, a whitepaper, a roadmap website, etc. You could set up a similar structure.”

Kanye West inquires about BNB | Feb 22, 2025 | Source: X.com/KanyewestKanye West inquires about BNB | Feb 22, 2025 | Source: X.com/Kanyewest
Kanye West inquires about BNB | Feb 22, 2025 | Source: X.com/Kanyewest

Adding to the speculation, Kanye recently followed Changpeng Zhao on X, making CZ the only person he follows. CZ responded humorously, posting: “DEX is so much harder to use…” further fueling rumors of a collaboration.

West’s interest comes amid a growing wave of celebrity-driven crypto projects. In recent years, figures like Iggy Azalea, Caitlyn Jenner, and former NBA stars have launched their own tokens, with mixed results.

BNB Price Forecast: $700 Breakout Imminent if CZ Talks with Ye Advance Further

BNB price forecast chart suggests strong upside momentum, consolidating above key technical levels. The 12-hour chart shows BNB trading at $669.5, gaining 3.41% on the session.

BNB Price Forecast | BNBUSDBNB Price Forecast | BNBUSD
BNB Price Forecast | BNBUSD
  • Bollinger Bands Expansion: The price is pressing against the upper band at $689.8, signaling increasing bullish pressure. A breakout above this level could propel BNB toward $700, particularly if discussions between Kanye and CZ sparks more speculative demand.
  • Volume Delta Surge: Buying volume is outpacing selling pressure. A significant 24.48K increase in volume on the latest green candle aligns with a 5.35% price gain, indicating strong market participation.
  • On-Balance Volume (OBV) Trend: OBV has flipped positive, confirming accumulation. Historically, such a shift precedes sustained rallies, making a retest of $700 likely.

A rejection at $689.8 could trigger a short-term pullback to the middle Bollinger Band at $663.1, while the lower band at $636.5 serves as the last line of defense against a broader correction.

For BNB to sustain its uptrend, it must establish firm support above $680. A failure to hold this level could invalidate the bullish outlook, leading to increased volatility. If sentiment remains positive, the path to $700 remains open

Frequently Asked Questions (FAQs)

BNB surged 5% after speculation arose from Kanye West’s chat with Binance founder CZ about launching a blockchain project. 2. Could Kanye West launch his own crypto project? Yes, Kanye hinted at creating a full blockchain rather than just a meme coin, sparking intense speculation in the crypto community.

Yes, Kanye hinted at creating a full blockchain rather than just a meme coin, sparking intense speculation in the crypto community. 3. Will BNB reach $700 soon?

BNB must break resistance at $689.8 and hold support above $680 to maintain bullish momentum. A breakout could push it toward $700.

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Altcoin Season To Face Challenges Ahead, CryptoQuant CEO Predicts

Published

3 months ago

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December 3, 2024

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The altcoin market is entering an unusual phase, with independent trends emerging as Bitcoin drifts away from the broader crypto ecosystem. CryptoQuant CEO predicts a challenging altcoin season where only a few tokens will thrive.

Bitcoin’s dominance is being reshaped by its paper-based Layer 2 ecosystem, including ETFs and funds, limiting its interaction with alternative cryptocurrencies. These assets must innovate by building real Internet money ecosystems or adopting similar paper-wrapped models to attract fresh liquidity.

Altcoin Season Faces Uncertain Path as Market Dynamics Shift

The altcoin market is evolving rapidly, presenting unique challenges for investors. According to Ki Young Ju, CEO of CryptoQuant, this alt season is unlike any before. In his recent X post, he highlighted how Bitcoin’s ecosystem is increasingly detached from the alternative crypto, with paper-based Layer 2 systems like ETFs and funds dominating its growth. This separation has left alternative coins to navigate a different path, requiring either innovative use of stablecoins or similar paper-wrapped structures to secure liquidity.

The alternative cryptocurrencies, once moving in tandem with Bitcoin, are now displaying independent trends. With limited new liquidity entering the market, only a select few coins are expected to thrive. Ki Young Ju emphasized the need for investors to identify tokens capable of sustaining long-term value in this uncertain environment.

The leading alternative crypto, Ethereum, has gained traction among institutional investors during the shifting market trends. Last week, CoinShares reported $634 million in inflows into Ethereum investment products, boosting its year-to-date inflows to $2.2 billion. In contrast, Bitcoin saw $457 million in outflows, marking its first major decline since September. This trend highlights Ethereum’s rising appeal as Bitcoin faces profit-taking after surpassing the $100,000 milestone.

Binance Founder CZ’s Cryptic Tweet Fuels Cryptocurrency Speculation

Binance founder Changpeng Zhao, known as CZ, ignited the crypto community with his cryptic tweet. The riddle quickly sparked discussions on social media. Many believe it subtly hints at the ongoing altcoin season. Zhao’s enigmatic tweets often spark speculation. They align with the market’s current focus on the growing influence of alternative coins in a shifting ecosystem.

Moreover, Binance’s native cryptocurrency, BNB, has also showcased robust performance, reflecting its role as one of the top altcoins. Trading at $651, BNB price saw a 3% increase over the past 24 hours, a 4% rise over the week, and a notable 17% surge over the past month. With a market cap of $93 billion, it ranks sixth among all cryptocurrencies. Its 24-hour trading volume of $2.5 billion highlights strong demand. The coin’s steady growth emphasizes its relevance as the alternative cryptocurrencies continue to reshape investor sentiment amidst evolving market dynamics.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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