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

Big Banks vs. Bitcoin: The Battle for Financial Freedom

For decades, the big banks have had us all on a leash They control our savings, dictate our loans, and profit off the very money they “lend” us—money they didn’t even have to begin

XRP’s $149B Power Play: Tokenization, Defi, and a Regulated Stablecoin 

XRP, with a market cap of $149 billion, isn’t just a heavyweight in cryptocurrency—its distributed ledger network has been diving headfirst into tokenization and decentralized finance

Ethereum Active Addresses Surge By 36% In Support Of Bullish Price Action – Details

Shortly after surging above $4,000 on December 6, Ethereum (ETH) has sunk into a state of consolidation showing no significant price action over the last day With growing speculations over the

Bitcoin Whales Ramp Up Accumulation – Another Price Surge To Follow?

The price of Bitcoin (BTC) has dipped by 166% in the last day after failing to break past $102,000 on Friday Currently, the crypto market leader seems to be in consolidation, with little indication

A Crypto Tax Paradise? Czech Republic Pioneers Tax-Free Crypto Policies

Czech lawmakers have approved a groundbreaking tax reform exempting bitcoin and other digital assets from capital gains tax if held for over three years, effective Jan 1, 2025 Additionally, annual

Latam Insights: Bolivian Crypto Market Overheats, Chile Belittles Bitcoin

Welcome to Latam Insights, a compendium of the most relevant crypto and economic news from Latin America over the past week In this issue, the Bolivian cryptocurrency market keeps growing after the