Binance is a unique ecosystem of decentralized networks based on blockchain. The company has grown to become the leading crypto exchange in several countries, and its parallel organizations are also attracting significant interest.
One of the biggest competitive advantages that Binance has is its drive for development. While the company started only as a crypto exchange in 2017, today Binance has extended its services between numerous different spheres. According to the company’s website, its mission is to become the infrastructure service provider for the entire blockchain ecosystem.
Since the launch of BNB, the exchange has also benefited from increased investor interest in the token. BNB experienced a significant price increase at the beginning of 2021, which has put it on the map of business investors.
Key facts
- BNB has been in decline for months, after its all-time high in May 2021.
- BNB is currently at the 275 level, the support level for its fall in May 2021.
BNB has long been part of the TOP 10 marketcap in the crypto world, It started as a kind of Binance DeFi branding, which ended up being a Hit in 2021, being among the most used DeFis.
Over the past 6 months, BNB lost approximately 60% of its value while it saw the other global markets collapse due to the fear of aggressive policies by Jerome Powell, Fed Chairman.
From a macro point of view, the value is in what seems to be an accumulation period. The Fed’s decisions and the Luna event pushed BNB to the limit of the previous range. This could be positive, there is a possibility of a rebound in the face of this extreme Panic in the market.
With the RSI in a bearish area of 33.77%, quite favorable for the price, but the trend structure that it will resonate at those levels until falling into a regression. And so then continue upward.
Although BTC is a risk asset, greater stability on the part of the FED, would propitiate the necessary conditions for the confirmation of this proposed scenario.
Bearish possibility on the horizon
It should not be ruled out, after all, these are projections based on the information we have so far, in the face of new information, this bullish projection could be modified. Always putting good risk management before us, the worst scenario in this market is that the opposite of what has already been said happens.
There are a few factors that could direct the price down:
- Aggravate the aggressive conditions in the markets, due to the coming recession, invalidating our previous analysis.
- El Salvador’s BTC bonds could be canceled due to pressure from the IMF.
- Or the war could escalate, spreading throughout Asia, Indo-Chinese front or the South China Sea.
- Russia may not end up trading its commodities in Bitcoin, thus avoiding driving unprecedented crypto adoption.
Whatever the scenario, we could be invalidated, after all, the market is always right and we just want to hit whatever you think.
Given this scenario, the estimated target for BNB would be at the level of $226
The market, right now, as we discussed earlier, the eye is on the inflation News. Based on your decision one or another scenario will occur
At the moment, already BNB, emulating the rest of the altcoin market, has fallen about 60% with respect to its historical maximum, set last May at about $692.
This content has been generated by Matías Colloso, Professor at the CBA Crypto Trading academy and Member of the Córdoba Bitcoin community. You can follow him on his LinkedIn.
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