bullish

2024

Status

<p>BNB is generating increasing interest, hinting at imminent expansion. Let’s explore together the future prospects for BNB.</p> 
<h2 id="h-situation-du-cours-du-bnb">Current Status of the BNB Price</h2> 
<p>After reaching an all-time high just below $725, BNB has experienced a decline that brought its price around $403. Since then, the crypto has been undergoing a consolidation phase in the form of an ascending triangle, remaining above the annual VWAP. The buying interest for BNB appears strong, with consistently higher lows. However, the resistance at $605 remains difficult to overcome, raising questions about the continuation of buying interest. It is also noteworthy that BNB is currently above its monthly pivot point, the POC, and the monthly VWAP. These factors suggest a potential continuation for BNB’s upward movement.<br><br>At the time of writing, the <a href="https://www.cointribune.com/en/crypto-markets/bnb-bnb-en/" target="_blank" rel="noreferrer noopener">BNB price</a> is trading around $602, very close to its resistance. Since this has not yet been broken, it is difficult to assert that the medium-term trend is bullish. However, the 50-day and 200-day moving averages, located below its price and having recently formed a golden cross, suggest otherwise. Thus, the crypto appears to be in a phase of uncertainty. As for BNB’s bullish momentum, it remains slightly supported, as evidenced by the oscillators and the price of the crypto itself.<br></p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1"> 
 </div> 
</div> 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXf374SlcLxSar_KjbEBp0wXGDheamcz48ylTXUNsb9nQNuPaZXgitZRFSgnQ3OvrxuOb3Olj2CkMMG7GGBCPuigqf3WbJLmW1qKhUAs_PJ01EOR0NL1UBlWv9whVN8iJsZSGFeoSIPVcAHDBvKFrx5W4Ujb?key=0FByPdVEGCZdJwyvYXex5g" alt="">
 <figcaption class="wp-element-caption">
  BNB/USD Chart (1D)
 </figcaption>
</figure> 
<p><em>The current technical analysis has been conducted in collaboration with Elie FT, a passionate investor and trader in the cryptocurrency market. Currently a trainer at </em><a href="https://www.family-trading.com/" target="_blank" rel="noreferrer noopener"><em>Family Trading</em></a><em>, a community of thousands of active retail traders since 2017. You will find Lives, educational content, and mutual support around financial markets in a professional and friendly atmosphere.</em></p> 
<h2 id="focus-on-derivatives-bnb-usdt">Focus on Derivatives (BNB/USDT)</h2> 
<p>The open interest of perpetual BNB contracts and their CVD continue to evolve in line with the underlying asset’s price, revealing growing interest from speculators, primarily on the buy side. Positive funding rates confirm the optimism of speculators on the crypto’s perpetual contracts. Regarding liquidations, a recent spike in short position liquidations has been observed, which could indicate a capitulation of sellers.</p> 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfu5M_3PNSVR7WJ3U4my_jh7P7haznULssEWwh8jpWZufyaKpcOgmgAWcOEM1Px5Ty91YuJ6GMq8gKCpmVh2EFvzTUkldNinEl7zxvrkYbBeZzFBfKQ1DHbqroyDio5u-Gcwa-Vyye45kB8iKU8qf-GQmYI?key=0FByPdVEGCZdJwyvYXex5g" alt="Open Interest / Liquidations &amp; Funding rate BNB/USDT">
 <figcaption class="wp-element-caption">
  Open Interest / Liquidations &amp; Funding rate BNB/USDT
 </figcaption>
</figure> 
<p>The liquidation heatmap of BNB/USDT over three months shows that the crypto is located below an important liquidation zone identified around $620. Other notable, more subtle liquidation zones can be found below the current price of BNB, particularly under $600, under $560, and under $530. If the price approaches these levels, this could trigger a large number of orders, thus increasing the volatility of the cryptocurrency. These zones therefore represent a crucial point of interest for investors.</p> 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXc-PsRoWyzJbPJhRajfS9ydPlUINYbMRq0b3lt2iZs7H80ZK34adpK8MMsRyW1Tte8_UutDdwPTvUGbyIx17Yj2gOk4XIsiVvvdqJ1OgNtGH2paIzeNdBBig0E2I4ihmMBCnW5yezXpDKmB-y3G45fhG2aH?key=0FByPdVEGCZdJwyvYXex5g" alt="BNB/USDT Liquidation Heatmap (3 months)">
 <figcaption class="wp-element-caption">
  BNB/USDT Liquidation Heatmap (3 months)
 </figcaption>
</figure> 
<h2 id="forecasts-for-the-bnb-price">Forecasts for the BNB Price</h2> 
<ul> 
 <li>If the BNB price remains above $565, a break of $605 could be anticipated, with the next target located around $635. Higher still, the crypto’s ATH is at $724, achieving which would represent an increase of over 20%.</li> 
</ul> 
<ul> 
 <li>If the BNB price fails to stay above $565, a pullback towards $535 could be considered. If the decline continues, the next key support would be around $470, representing a drop of about 21%.</li> 
</ul>  
<div class="tradingview-widget-container tradingview--mini-chart"> 
 <div class="tradingview-widget-container__widget"></div> 
 <div class="tradingview--mini-chart--dark"> 
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:BNBUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"dark"}</script> 
 </div> 
 <div class="tradingview--mini-chart--light"> 
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:BNBUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"light"}</script> 
 </div> 
 <div class="tradingview-widget-copyright">
  <a href="https://fr.tradingview.com/symbols/BNBUSD/?exchange=BINANCE" rel="noopener" target="_blank"><span class="text-primary-color">BNBUSD chart</span></a> by TradingView
 </div> 
</div>  
<h2 id="conclusion">Conclusion</h2> 
<p>BNB is showing signs of recovery with visible buying support, but its bullish trend remains uncertain in the face of persistent resistance. Although some indicators are encouraging, the current situation calls for caution while waiting for clearer signals. Thus, all that remains is to closely observe the price reaction at the various key levels to validate or adjust the current forecasts. Finally, let’s remember that these analyses are based solely on technical criteria, and that the prices of cryptocurrencies can evolve rapidly based on other more fundamental factors.</p>

Crypto: New Peak For BNB In Sight? Analysis Of October 30, 2024

Table of Contents

Cointribune EN

Other articles published on Oct 30, 2024

Couldn’t Get into Ethereum? Here’s Why Qubetics $TICS Is Your Chance for Big Gains

Bitcoin ETFs Surge with Record Inflows as Price Nears All-Time High

Next Cryptocurrency to Explode, October 30 — Mask Network, Ethena, Woo Network, Flow

Bitcoin Price Analysis: BTC Nears All-Time High As BTC ETF Inflows Soar And This PEPE 2.0 ICO Bar...

Uniswap Launches Permissionless Cross-Chain Bridging on Nine Networks, Including Polygon and ZKsync

Is PEPE Price Ready to Skyrocket? Key Support Holds for Major Move!

Join our free newsletter for daily crypto updates!