BNB Price Prediction: Is BNB Set to Skyrocket by 5%?

Updated: 16 September 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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Binance Coin (BNB) price is $215 at the time of writing, recording daily gains of 0.45%. In the past five days, the coin has surged about 5% in value. Meanwhile, the outlook suggests a potential additional 5% surge in its value, targeting the $225 level.

The BNB/USD daily price chart reveals a double bottom formation at $203. Following this pattern, prices have commenced an upward trajectory. The overall outlook indicates a sustained upward trend. This is supported by Moving Average Convergence Divergence (MACD) histograms in the positive territory. Additionally, the Stochastic Oscillator is moving north, signaling potential future gains.

However, it is worth noting that the Exponential Moving Averages (EMAs) paint a different picture, with the higher EMA positioned above the lower EMAs. This indicates a potential continuation of the bearish trend.

Simultaneously, the confluence of the double bottom pattern, Stochastic, and MACD indicators suggests a potential 5% price increase, with a target of around $225. Beyond this point, any breach and close above $225 could propel prices toward the next resistance level at $240.

On the downside, initial and crucial support is $203, the same level where the double bottom pattern formed. A breakdown and closure below this threshold could trigger significant bearish pressure, potentially pushing prices below $180.

As per Coinmarketcap data, the total market capitalization of BNB is on the upswing, showing a 1% increase today, reaching $33,074,787,006. Simultaneously, the 24-hour trading volume for the coin has surged by approximately 83%, now standing at $624,622,957. This notable increase in trading volume, coupled with the rising prices, paints a favorable growth trajectory for the BNB cryptocurrency. It also supports the previously mentioned prediction of a potential 5% increase shortly.

While BNB’s outlook is promising, another coin has similar growth potential. This is BTCBSC, a new project with analysts very optimistic as they forecast 10X gains.

Alternative to BNB

BTCBSC, or ‘Bitcoin on BNB Smart Chain,’ is getting massive attention from investors with its unique theme. The cryptocurrency offers an improved version of Bitcoin on the BNB smart chain. The coin distinguishes itself from the original Bitcoin (BTC) by giving a staking feature. Unlike BTC, the BTCBSC has a Proof of Stake (PoS) Consensus Mechanism. You can stake and earn with BTCBSC by buying it with BNB. Almost 1M of the sold BTCBSC is staked, earning an Annual Percentage Yield (APY) of 260%.

https://twitter.com/Bitcoinbsctoken/status/1702706565646557584

Interestingly, the coin has quickly gathered over $2.238 million in two weeks during its presale. The target of presale has been set as $3.96 million. It’s currently available for $0.99 in the presale.

https://twitter.com/Bitcoinbsctoken/status/1702595013689946233

Furthermore, transparency is key with BTCBSC as it offers a real-time staking dashboard. Another interesting fact that is gaining attention is that smart contracts are audited. Additionally, liquidity is secured for Uniswap listing.

BTCBSC project has allocated 69% of its total tokens to stakers. The reward structure is just like Bitcoin. The stakers are rewarded at 0.25 BTCBSC per block every 10 minutes. Thus, it reduces the selling pressure on decentralized exchanges due to staking support. Users can withdraw staked coins after seven days.