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Binance (BNB) Coin

Will Binance’s New Regulatory Win Help BNB Price Avoid $500 Breakdown?

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BNB price plunged 3.4% in the last 24 hours to currently trading at $554. The renewed selling pressure follows the Bitcoin crash below $65000 as geopolitical tension between Israel and Iran escalates. Despite the broader market pullback, Binance further expanded its global reach by recently securing regulatory approval from Argentina’s National Securities Commission (CNV).

Will Binance’s Latest Regulatory Win Shield BNB Price From a $500 Breakdown?

Binance, the largest cryptocurrency exchange service by trading volume, has recently achieved its 20th global regulatory milestone by registering as a Virtual Asset Service Provider (VASP) in Argentina. This move enables Binance’s mobile and web applications to be fully accessible to users in Argentina, as the exchange is now officially registered as a licensed crypto service provider in the country.

VASP approval followed the recent registrations in Kazakhstan, India, and Indonesia, allowing Binance to strengthen its regulatory foothold across the globe. 

Guilherme Nazar, Binance’s Head of Latin America, says, “Argentina is a key market for Binance. We will continue to work closely with the authorities to develop the industry most sustainably and securely for the benefit of the crypto community and society as a whole.”

Thus, Binance’s compliance with regulatory authority accentuates its efforts to deliver a more robust, secure, and transparent crypto ecosystem, naturally surging the demand pressure in BNB price— its native cryptocurrency.

Former Binance CEO Changpeng Zhao (CZ) was released from a U.S. federal prison on September 27, 2024. He had served a four-month sentence for failing to implement adequate anti-money laundering (AML) measures at Binance.

BNB Coin Hints 4% Drop Before Major Reversal

Amid the geopolitical tension, the BNB price shows a notable fall from $618 to $554, accounting for a 13.2% loss. The bearish turnaround invalidates the $600 breakout from late September, strengthening the seller’s grip over this asset.

With sustained selling, the Binance coin price could plunge another 4% to retest the 200-day exponential moving average at $530. This support, currently coinciding with an ascending trendline intact since August 2024, could act as a suitable line for reversal.

The bullish reversal will keep the near-term trend bullish as buyers continue to accumulate at market dips. Thus, the BNB price could rebound 11.8% to rechallenge the $200 barrier and chase $721.

BINANCE:BNBUSDT Chart Image by sahilmahadik07BINANCE:BNBUSDT Chart Image by sahilmahadik07

However, if the BNB price breaks below support trendline, the bearish momentum will accelerate for a prolonged downfall to $471.

Frequently Asked Questions (FAQs)

Binance recently achieved its 20th global regulatory milestone by securing approval from Argentina’s National Securities Commission (CNV)

The $530 level serves as a critical accumulation zone for BNB, supported by the 200-day exponential moving average (EMA) and an ascending trendline

The ongoing geopolitical tension between Israel and Iran has contributed to renewed selling pressure in the cryptocurrency market

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Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

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 (BNB)

BNB Price Prediction As Binance Coin Hits New ATH

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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 (BNB)

Is It Time To Buy the Dip Now?

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BNB has experienced significant price fluctuations this year, reaching a high of $720 in June before undergoing a downward correction. More recently, technical patterns such as ascending triangles have signaled periods of consolidation, suggesting the market could be at a pivotal moment. With prices dipping, traders and investors are eyeing potential entry points

These patterns suggest that Binace Coin price could be preparing for a potential breakout, offering insights into its future trajectory. After peaking, BNB began forming an ascending triangle, hinting at consolidation and a possible continuation of the uptrend that began in October. However, the recent price correction has added uncertainty.

BNB Price  Soars In DEX Trading Volumes: Should You Buy the Dip Now?

BNB has been performing strongly in decentralized exchange (DEX) trading, ranking third among the top networks by volume over the past 30 days as investors are left wondering if this could be the right time to buy the dip and position for the next rally.

According to recent data, Binance Smart Chain recorded a significant $21.8 billion in trading activity, closely following Ethereum and Solana, which led with $41.6 billion and $37.7 billion, respectively. 

This highlights BNB’s continued relevance in the decentralized finance (DeFi) space, where it remains a key player.

Will Binance Coin Price Hit $620 This Week?

The token has shown volatility over the past week, reflecting the broader crypto market trend. Bitcoin recently surged above $67,000, but profit-taking activity has introduced some instability. This led to a minor correction, pulling the current BNB price down to around $595, marking a slight dip of 0.31%. 

The Relative Strength Index (RSI) shows a reading of 47, indicating neutral market conditions.

BNB price is showing encouraging signs of a potential bullish trend. If upward momentum returns, the token could test the $610 resistance level. Furthermore, sustained buying pressure may push major altcoins beyond $615 in the near future.

BNB Price Prediction: Is It Time To Buy the Dip Now?BNB Price Prediction: Is It Time To Buy the Dip Now?
BNB Price Chart| Source: TradingView

The whale activity has correlated with a recent dip in BNB’s price, as the percentage of stablecoins held by whales has increased. Despite accumulating more than $5 million in stablecoins, BNB’s price has declined, suggesting that large investors may be repositioning in the market. 

BNB Price Prediction: Is It Time To Buy the Dip Now?BNB Price Prediction: Is It Time To Buy the Dip Now?
Source- Santiment

BNB price faces a pivotal moment. While short-term volatility persists, a breakout above $610 could signal a bullish turn.

Frequently Asked Questions (FAQs)

BNB ranks third among DEX networks, with $21.8 billion in trading volume over the last 30 days.

The $610 level has proven to be a significant resistance point due to market selling pressure.

Yes, whales have increased their stablecoin holdings during BNB’s price dip, signaling caution.

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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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Avalanche price analysis

7 Top XRP Rivals Aiming for 5X Growth in Q3

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Major XRP rivals are gaining traction among crypto participants as the recent conclusion of the long-running Ripple vs. US Securities and Exchange Commission (SEC) case failed to ignite the expected rally. On August 7th, Judge Analisa Torres ruled that Ripple Labs would pay $125 Million of the $2 Billion initial fine sought by the U.S SEC, a decision that some see as a victory for the blockchain payments company.

While the XRP price still wavers around the $0.55 mark, the potential investors can consider the below competitors poised for notable growth in the 3rd quarter.

1. XRP Rivals – Stellar (XLM)

Stellar (XLM), the blockchain project closest among XRP rivals, focuses on financial inclusivity by enabling quick, low-cost cross-border transactions that appeal particularly to unbanked populations globally.

Over the past two years, the XLM price showcased a sideways action resonating within two converging trendlines of the symmetrical triangle pattern. A recent reversal from the pattern’s lower trendline has uplifted the asset from $0.075 to $0.096, registering a 26% growth.

According to Coingecko data, the Stellar coin holds a market cap of $2.8 Billion, while the 24-hour trading volume is $46.5 Million. With sustained buying, the altcoin could rise over 40% to challenge the overhead resistance trendline at $0.137.

A bullish breakout from the triangle pattern will signal a major trend reversal in Stellar price prediction.

Stellar PriceStellar Price

XLM/USD 1d Chart

2. Solana (SOL)

Solana (SOL) is a high-performance blockchain platform designed for decentralized applications (dApps) and crypto projects. According to Coinmarketcap data, Solana is the fifth largest cryptocurrency, boasting a market cap of $64.6 Billion.

Over the past year, this altcoin has surged 540% to $139, emerging as a high-performing asset. However, this recovery could be an initiation push after the FTX collapse crash, as leading asset management companies showed interest in Solana-based products in the traditional market.

The SOL price has been down 2.4% in the last 24 hours, likely heading to the flag pattern support at $100. On-chain data from The Block suggests that the number of new addresses has decreased by 30% to 956.3k in August. This decline indicates a slowdown in network activity and user engagement. 

Thus, the Solana price prediction hints at a healthy retracement before a breakout from the flag pattern.

XRP Rivals- Solana XRP Rivals- Solana
SOL/USDT – 1d Chart

3. Toncoin (TON)

TON blockchain, closely linked with the Telegram messaging app, is designed for high-speed, low-cost transactions and supports a variety of decentralized applications. Toncoin stands strong among the XRP rivals due to its rapid price growth backed by Network Total Volume Locked (TVL) and famous Tap-to-earn games.

Data from Coingecko shows that Toncoin holds a market cap of $16.1 Billion, securing its position as the eighth-largest cryptocurrency. Moreover, Intotheblock analystics shows the number of addresses with Balance skyrocketed to 40.54 Million, registering a YTD growth of 1025%.

Toncoin Price Total Addresses with balanceToncoin Price Total Addresses with balance
Total Addresses with balance | Intotheblock

The Toncoin price is down 1.65% to trade at $6.44. A potential breakout from the overhead trendline will signal the end of correction and bolster the buyers to surpass the All-time high barrier of $8.2.

Toncoin priceToncoin price
TON/USDT Chart

4. SUI

SUI is a layer-1 blockchain network providing a secure, robust, scalable development platform. The native cryptocurrency of the network, SUI, recently caught the attention of investors with a sharp recovery from $0.46 to $1.17—- a 141% increase in August’s sluggish market.

This rapid growth can be attributed to the recent launch of Grayscale’s SUI Trust Fund and price breakout from a 4-month downward channel. The SUI coin currently trades at $0.817 and holds a market cap of $2.1 Billion.

The current pullback in SUI price could retest the breach channel resistance at $7.5 before the next leap. The post-correction rally could drive the altcoin to an initial target of $1.44, followed by ATH at $2.18.

SUI priceSUI price
SUI/USDT Chart

5. Binance Coin  (BNB) 

Binance coin is the native token of the largest centralized cryptocurrency exchange in terms of trading volume. Along with the exchange, the BNB token powers the entire Binance ecosystem, including the Binance smart chain, NFT market, DeFi services, etc.

Over the past year, the BNB has increased by 129% to make a new all-time high of $724 in June 2024. Despite the founder, Changpeng Zhao, being arrested, the BNB token and the Binance ecosystem flourished. As CZ is expected to be released this September, along with the potential rate cuts in the US, the BNB coin price will likely skyrocket. 

The BNB price is trading at $530 with an intraday gain of 5.36%, which forms a morning start in the weekly chart. In the daily chart, the BNB price trend shows a double-bottom reversal in a megaphone pattern. As a trend continuation pattern, it increases the possibility of an extended bull run in the coming times. 

XRP Rivals - Binance Coin priceXRP Rivals - Binance Coin price
BNB/USDT Chart

6. Avalanche (AVAX)

In the race of Ethereum-killer, Avalanche is right behind Solana with a market cap of $8 billion and a growing ecosystem. As the crypto market grows with increasing global adoption, Avalanche will likely find new markets and niches.

The AVAX token among the top contenders of XRP rivals shows a 78% rise in the last year and forms a 52-week high at $65.38. Trading at a discount of 86% from its all-time high at $147.50, AVAX exchanges hands at $20.46. 

Furthermore, Avalanche faces a threat of huge incoming supply with a token unlock of 9.54 million tokens on August 20. Thus, a potential surge in supply with the unlock could dilute the market price to lower levels.

The daily chart shows a bearish wedge in the AVAX price trend, accounting for a 66% drop in 150 days. Currently, the bull cycle struggles to gain momentum as it takes a lateral exit. A breakout of either of the converging trendlines will decide the upcoming trend in Avalanche price prediction

XRP Rivals - AvalancheXRP Rivals - Avalanche
AVAX/USDT Chart

7. Polkadot (DOT)

Polkadot, known as the internet of the crypto world, allows cross-blockchain data transfer. Based on its four-year history, Polkadot is a fast and highly scalable layer-1 project. As the number of blockchain projects increases along with the high chunks of value over top blockchain, Polkadot and similar projects will gain traction for user convenience. 

DOT token price witnesses a rise in bearish influence over the past year, resulting in a 7% drop. However, compared to the 52-week high at $11.89 formed in March 2024, the DOT price is down by 68% and trades at $4.330.

Polkadot pricePolkadot price
DOTUSDT -1d Chart

With a bearish trendline in action, the DOT price is in a downtrend and has experienced multiple rejections. However, as a rising star among XRP rivals, the Polkadot price may soon skyrocket with a breakout run to reclaim $10.

Frequently Asked Questions (FAQs)

The conclusion of the Ripple vs. SEC case, which resulted in a significantly reduced fine for Ripple, did not trigger the expected rally in XRP’s price.

Solana’s substantial market capitalization and its high-performance capabilities for decentralized applications make it an attractive option for ETFs.

Toncoin has seen a dramatic increase in the number of addresses with balances, growing its market cap substantially.

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Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

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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