BNB Price Prediction: Bullish Tendencies And Hidden Gem That Is Wall Street Memes

The Binance Coin, BNB, is in the red today, August 3, as the broader crypto market continues in a bearish trend.

However, BNB’s price movements suggest potential bullish tendencies could hold the market value above $240. 

Following a recent announcement about a future project launch, excitement has increased within the crypto community. As such, people speculate a potential price rally ahead for BNB. 

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📅 Friday, August 4th
🕑 2:00pm UTC
📌 https://t.co/IZNIMWdfKr pic.twitter.com/J7gjXNRCBd

— BNB Chain (@BNBCHAIN) August 3, 2023

BNB Holds Above $240 – What Next?

Over the last 14 days, the BNB shed 1.9% of its price with a 2% 30-day value decline. But despite the bearish sentiment, BNB is still holding above the $240 price level. 

BNB has reached $240.10 as of 6:40 am EST. The technical analysis projects a potential for a bullish trend reversal for BNB in the coming days. 

BNB/USD Daily Chart

According to the chart above, the red candle stick formation shows the increased selling pressure in the BNB market today. The Moving Average Convergence Divergence (MACD) is above the signal line with green faded histogram bars, showing that BNB has been bullish, but the bulls are losing momentum.

The asset is trading below its 50-Day and 200-Day Simple Moving Average (SMA), indicating a short and long-term bearish momentum and a sign that BNB’s price could decline further in the coming days.

On the other hand, the asset’s Relative Strength Index (RSI) is at 46.7, moving in the neutral region, depicting the possibility of BNB maintaining a stable price level of around $240 throughout the week. 

The buyers and sellers are in equilibrium, fighting to gain the upper hand. But, if sellers surpass the buyers, the RSI will drop to the oversold region (below 30), triggering more downturns below the $240 level. 

However, if buyers surpass the sellers, BNB will move to overbought (above 70), triggering more rallies that could see the price above $240 in the coming days.

BNB Faces Significant Resistance a Few Pips Above Current Price

BNB is facing resistance at $246.50, suggesting that traders and investors are hesitant to buy at prices higher than $246.50. It could cause BNB’s price to stall or reverse direction before the weekend.

On the other hand, the coin has support at $236.36, which means the price could bounce back as buyers may jump in at this level. 

Considering the market condition, traders should closely monitor these levels as there is potential for a breakout or breakdown at these critical price levels.

Despite BNB’s bullish tendencies, a new hidden gem, Wall Street Memes presale, is breaking records, providing a promising outlook for investors seeking alternatives to BNB.

$WSM Listing is Within Reach – Presale Hits $20.4 Million Out of $21.9 Million

The Wall Street Memes presale is coming to an end. It has reached over $20.4 million out of its initial valuation of $21.9 million. The tokens are now selling for $0.0328 and will reach their listing price of $0.0331 in the next four days.

As a revolutionary meme crypto project, Wall Street Memes presale has garnered the attention of crypto enthusiasts, meme lovers, and influential figures in the crypto space. This all-encompassing community poses strong support for the project. 

suX to be you bro pic.twitter.com/RGLQ3Z3ehZ

— Wall Street Memes (@wallstmemes) August 2, 2023

Wall Street Memes could become a prominent gem in the meme coin space by creating a passive income source for investors who had missed out on past presales.

Considering the sell-out speed of the tokens, the presale could end earlier than expected. So, seize this low-price opportunity and acquire $WSM using BNB, ETH, USDT, or your bank card before its listing on decentralized exchanges (DEX).