Famous Analyst Predicts BNB Price Surge to $310

BNB experienced a notable 6% price increase over the past week, supported by positive indicators and sustained high network activity.

Famous Analyst Predicts Bnb Price Surge To $310_65b9726253c7f.webp

Amid concerns of a price drop in BNB Chain after CZ’s exit, the coin has demonstrated resilience, marking a notable 6% increase in the past week. Encouragingly, a promising bullish pattern is emerging on BNB’s price chart, with the potential for further gains.

As per Ali, a prominent crypto analyst, BNB Chain may be forming a head-and-shoulders pattern. In a tweet on December 12th, he stated, “A sustained close above the neckline at $261 could ignite a bullish breakout, propelling BNB toward $310!”

Examining BNB’s daily chart reveals the possibility of reaching $261, with the MACD indicating a clear bullish advantage in the market. Additionally, the Chaikin Money Flow (CMF) has shown a promising uptick in recent times. While these indicators point towards a positive trend, it’s worth noting that some other signals appear bearish.

For instance, the coin recently touched the upper limit of the Bollinger Bands, and the Relative Strength Index (RSI) took a downturn towards the neutral zone, raising the likelihood of a potential price correction.

famous analyst predicts bnb price surge to 310 65b9726256c79

In terms of network activity, BNB has maintained a robust performance. Despite the blockchain’s price chart reflecting positive momentum, there has been a notable uptick in network activity in recent times.

Related: BNB Significantly Impacted Following CEO Changpeng Zhao’s Departure

Analysis of Artemis’ data highlights the stability of BNB’s daily active addresses throughout the past month. Notably, on December 7th, 2023, the blockchain witnessed a significant surge in daily transactions, indicating a sudden spike in BNB’s network usage.

Furthermore, BNB’s standing in the DeFi space appears promising, with an increase in Total Value Locked (TVL).”

famous analyst predicts bnb price surge to 310 65b972626464a

5.0/5

(100 votes)

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest

Azcnews Nigeria Confirm

News | Editor Choice | Policy & Regulations

Central Bank of Nigeria Confirms Not Blocking Crypto Users

The Central Bank of Nigeria (CBN) has officially confirmed reports of their freezing of user accounts on platforms such as Bybit, OKX, Kucoin, and Binance as fraudulent.

Azcnews President Joe Biden Proposes Highest Tax Rate In History

News | Editor Choice | Policy & Regulations

President Joe Biden Proposes Highest Tax Rate in History

US President Joe Biden has just proposed increasing capital gains tax to 44.6%, marking the highest federal capital tax rate ever.

Bitcoin Dip 64500

News | Bitcoin | Editor Choice

Bitcoin Dips to $64,500, Yet Scarcity Remains High

Despite Bitcoin dipping slightly to $64,500 currently, most experts believe that prices will soon enter a bullish cycle.

What Is Gas Fee

Blockchain | Editor Choice | Research

What is Gas Fee? A Guide to Optimizing Gas Fees Effectively

In any blockchain environment, Gas fees play a crucial and nearly irreplaceable role. So, what is Gas fee? How can you optimize Gas fees? Let's find out!

Nigeria Ban Binance

News | Editor Choice | Policy & Regulations

Nigeria Freezes User Accounts on Bybit, KuCoin, OKX, Binance

The CBN, in the circular, also mentioned that financial institutions under its regulation are not allowed to engage in cryptocurrency activities or assist in transactions for crypto exchanges.