Binance (BNB) On-chain Data Eyes To Hit $1000 This 2024?

Share This Post

BNB Price

The post Binance (BNB) On-chain Data Eyes To Hit $1000 This 2024? appeared first on Coinpedia Fintech News

Story Highlights

  • With a 24-hour surge of ~19%, the BNB coin price has achieved a new ATH.
  • Daily trading volume records a 125% surge and surpasses the $5 billion mark.
  • Sustained bullish action could push the price toward the $1000 mark.

The BNB coin price has achieved a new ATH of $793.35 with an intraday surge of over 20%. Moreover, with a surge of ~150% in its daily trading volume, this altcoin is currently exchanging hands at $769.88.

With Binance coin price recent surge, will this crypto token dominate the altcoin market rally this month? Lets us understand the market sentiments and short-lived Binance (BNB) coin price analysis through this article.

Binance Price Records A New All-time High Today!

The BNB coin price has surged ~19% in 24 hours with a trading volume of $5.777 billion. This has resulted in this altcoin recording a new ATH for the second time this year. Further, highlighting a strong bullish sentiment in the crypto market.

Binance Price Records A New All-time High Today!
TradingView: BNB/USDT

Further, the SMA indicator constantly supports the BNB price chart in the 1D time frame. This highlights increased buying-over-selling pressure for the BNB token in the cryptocurrency market.

The Moving Average Convergence Divergence (MACD) has recorded a sharp rise in the green histogram with its averages showing a similar price trend, indicating that the 06th largest crypto token may continue gaining value in the coming time.

Will Binance Price Hit $1000?

If the crypto market continues gaining momentum, the Binance price may achieve the $800. Maintaining the price above that level may result in it retesting its all-time high (ATH) of $100 in the coming time.

On the contrary, in case of a bearish reversal, the BNB coin price could retest its support level of $720. Moreover, with increased bearish sentiment, this altcoin could plunge toward its lower support level of $635.

Concerned about the long-term price sentiment of the BNB token? Read CoinPedia’s Binance Coin Price Prediction. Also, subscribe us to stay updated on the latest cryptocurrency news!

FAQs

What is the price of Binance?

At the time of writing, the value of one BNB token was $769.88.

Can BNB reach $1000?

For this altcoin to achieve this price target, it will require a surge of 29.89% in valuation.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Cardano Whales Keep Buying – Price Holds Above Crucial Mark

Cardano (ADA) has demonstrated impressive resilience, holding firmly above the critical $115 level since Monday despite an aggressive market shakeout triggered by Bitcoin’s volatility While many

Coinbase-Backed Yellow Card Seeks Nigerian License After South African Regulatory Win

Yellow Card, an African stablecoin platform, is taking steps to secure a license from Nigeria’s Securities and Exchange Commission (SEC) after obtaining a Crypto Asset Service Provider (CASP)

Coinbase exec publishes FDIC letters urging banks to halt or avoid crypto services

Coinbase chief legal officer Paul Grewal has disclosed letters from the Federal Deposit Insurance Corporation (FDIC) to banks throughout 2022, urging them to halt or avoid crypto-related activities

Expert: Crypto Market Fond of Round Figures, BTC Set for ‘Significant Price Correction’

Bitcoin (BTC) recently hit a new high of $100,000, but some experts believe a correction is coming Significant Bitcoin Price Correction Expected According to one expert, bitcoin (BTC), which has

FDIC Asked Banks To Pause Crypto-Asset-Related Activity, Court Documents Reveal

The post FDIC Asked Banks To Pause Crypto-Asset-Related Activity, Court Documents Reveal appeared first on Coinpedia Fintech News In a latest X post, FOX Business journalist, Eleanor Terrett shared

Dogecoin Price Analysis: Ascending Triangle On 2-Hour Chart Shows DOGE Is Still Very Bullish

Crypto analyst KrissPax has provided a bullish outlook for the Dogecoin price, recently indicating that the foremost meme coin is still very bullish DOGE is currently witnessing a consolidation