BNB was the best performing altcoin in September after Binance launched an aggressive marketing campaign using several positive announcements like the launch of the Binance LaunchPool which is a different version to the LaunchPad. The idea behind the LaunchPool is that Binance users can stake their stablecoins and BNB in order to get new coins. This obviously had a massive impact on the price of BNB as users had to directly buy the digital currency in order to get access to the 'token sales'. Unfortunately, these types of announcements have a short-lived effect on the price of assets and BNB has already lost practically all of its gains, however, it remains higher than most cryptos. [caption id="attachment_77955" align="alignnone" width="2223"] BNB - BTC Comparison Chart - TradingView[/caption] Yes, BNB price has dropped lower levels but, in comparison to BTC, it is still higher than what it was back in September 16. The trendline is slightly upwards while Bitcoin's trendline is clearly going down. BNB Price Analysis: Daily Chart One of the biggest indicators for the upcoming bounce of BNB is the defense of the RSI level at 38. This level has been a support point for BNB since April 2020 and has marked all the previous bounces. The last time the RSI dropped to 38 was on September 5 before a massive 85% price boost. Another instance of the RSI dropping below 38 happened on June 27 when BNB bounced towards $19 with a 28% value increase. [caption id="attachment_77956" align="alignnone" width="2223"] BNB/USD daily chart - TradingView[/caption] Something similar could happen now although the RSI did not drop below 38 just yet, it was fairly close and BNB price seems to be bouncing already. There are two resistance levels nearby in the form of the 26-EMA at $25.14 and the 12-EMA at $25.8. However, because the price of BNB plummeted so fast, bears weren't able to leave many resistance levels on the way down. BNB Price Analysis: Weekly Chart Despite the recent decline in value for BNB, the digital asset remains extremely strong on the weekly chart as the weekly uptrend is intact. Bulls managed to defend the $23 support level where the 12-EMA is. The RSI was overextended and has cooled off now. In the long-term, BNB bulls are not facing that many resistance levels until $40, the all-time high. With the help of more and better Binance announcements, we could easily see BNB price re-test $40 and possibly break higher. Follow CryptoTicker on Twitter and Telegram for daily crypto news and price analyses! Binance price© Cryptoticker
Quick Take Disclaimer: The Block Research team has, is, and will be experimenting with the various protocols, projects, and applications mentioned in this series. The projects mentioned in our reports are not recommendations from our team and should not be misconstrued as investment advice. Many projects that appear in this series are highly experimental and, as such, will come with risks. Readers should evaluate their own risk tolerance before experimenting with these projects. DeFi Digest is a weekly look at newly launched DeFi projects This week’s digest looks at yAxis, SnowSwap, and Pickle Finance
Uniswap’s UNI token distribution paid nearly half of the tuition for students who attended one “Crypto 101” course.
The TRON (TRX) price has lost 54% of its value since it reached a high on Sept. 3. However, the price is approaching an important support level which could initiate a bounce. Return To Support The TRX price has been decreasing since it reached a high of $0.049 on Sept. 3. The decrease was initially […] The post Tron Decreases By More Than 50% — Will It Rebound? appeared first on BeInCrypto.
When compared to traditional markets, the cryptocurrency industry is highly volatile, and the price fluctuations are driven by many factors. After weeks of consolidation in the Ethereum market, volatility has made a comeback. This was noted in the latest report of Coin Metrics. This was primarily driven by the recent sell-off and the surprise launch of Uniswap The post UNI’s Surprise Launch, Sell-Off Triggers Volatility in Ethereum’s Price appeared first on Coingape.
Bitcoin markets have welcomed volatility in the market. The week began with a sharp fall in BTC value from $10,980 to $10,286. This devaluation of Bitcoin followed a solid recovery effort observed in the market that took place during the previous week. As Bitcoin finally broke out of consolidation on 14 September its value was […] The post 47% of existing Bitcoin contracts set to expire this Friday: What will change? appeared first on AMBCrypto.
FinCEN files found a link between the infamous Mt. Gox and Mayzus Financial Services and contained 36 SARs and leveled allegations of money laundering at MFS. With the stock market seeing red in the backdrop, the crypto space also bled as some assets saw double-digit percentage point losses. Polkadot, Tezos, and BAT have been in […] The post Polkadot, Tezos, BAT Price Analysis: 22 September appeared first on AMBCrypto.
Bitcoin bull Anthony Pompliano is betting big on digital art backed by blockchain technology. The co-founder and partner at Morgan Creek Digital Assets says he has a “fairly high” confidence level the fledgling industry could see a 6,000x increase in the future. Pompliano notes that estimates indicate the value of the traditional art market in […] The post Bitcoin Bull Anthony Pompliano Placing Big Bet on Digital Art Backed by Blockchain appeared first on The Daily Hodl.
Nathan Wyatt, a UK national, was sentenced to five years and prison and fined $1.5 million for his involvement in the hacker's group - The Dark Overlord. The post Member Of Bitcoin Ransom Group The Dark Overlord Sentenced To Five Years In Prison appeared first on CryptoPotato.
132 days post the third halving and Bitcoin is trading at $10450. The price has recovered nearly 25% from the post halving dip, it hit a high of 43.7% ROI last month. The ROI growth is in line with post halving prediction with YTD of 54%. Though there is scope for real growth in price, […] The post Is Bitcoin’s growth conservative or real? appeared first on AMBCrypto.
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