ارزدیجیتال

برچسب: Move

  • Is $2K BNB The Next Big Move? DeFi And ETF Hype Build The Case


    Main Takeaways:-

    • The technical chart indicates BNB price breached above the key level, aiming for $1,552 in the short term and $3,975 in the bull cycle.
    • On May 26, the BNB chain surpassed $13.31B in daily DEX volume.
    • On May 29, Binance Coin grabbed 98.6% of daily on-chain trading volume, maintaining a commanding position in the DeFi space.

    Technical Patterns Signal BNB Breakout and Next Cycle Milestones

    According to expert Crypto Patel, the Binance Coin (BNB) price has breached resistance, indicating a trend shift. The price area of around $600 to $650 had acted as a ceiling for more than two years.

    Is $2K BNB the Next Big Move? DeFi and ETF Hype Build the Case 1

    Since this zone has been passed, the expert thinks BNB’s price could reach $1,522 soon. He also said it might go as high as $3,975 if the strong upward trend continues during the bull market.

    This prediction is based on a past pattern where the price stayed steady for a while and then went up. The latest price jump matches earlier times when BNB’s price rose after staying tight for some time.

    Also, tools like the Fibonacci extension and price channel suggest that the strongest resistance levels might be around $1,000, $1,522, and $2,000. If the current strong trend keeps going, the price could move toward these levels soon.

    BNB Chain Outpaces Rivals in DEX Volume Growth

    On May 26, BNB Chain posted $13.31 billion in decentralized exchange (DEX) trading volume, the highest compared to all other blockchains on that day.

    This volume was 7.9 times bigger than Ethereum’s $1.675 billion and 5.7 times bigger than Solana’s $2.32 billion, according to data from Cypher X and DeFiLlama. This shows that many users are active and there is a lot of money moving around in the BNB network.

    Also, the increase in volume did not last just a short time. It helped BNB Chain beat the total volume of the top 10 blockchains combined.

    Binance Dominates On-Chain Metrics at New High

    Also, according to a Dune Analytics report, by May 29, Binance Chain was responsible for over 98.6% of all on-chain trades among the tracked blockchains. Binance Wallet and Binance Alpha played a big role in giving Binance Chain this level of control.

    On the other hand, Binance Wallet controlled 96.1% of all wallet trading on May 25, after which it processed above $7.76 billion in trade volume.

    Also, Binance Alpha helps keep users coming back by offering better search tools and easier access to Web3. This makes it simple for anyone to use BNB and stay active on the network.

    Together, they create the foundation needed for users to keep using the network regularly, supporting the idea that BNB Chain is a leader in DeFi.

    Market Momentum Strengthens on ETF Filing and Sentiment Boost

    Also, outside rules and big companies have affected the market. The VanEck request to create a BNB Spot ETF has brought more investor interest and guesses about how traditional finance might start using BNB products.

    Even though we do not know when approval will happen, just the filing has helped create positive feelings about the asset.

    At the same time, the US SEC decided to drop its case against Binance, which has eased legal worries in the US. This has made big traders and crypto fans feel more confident about the BNB network.

    At the time of reporting, BNB coin price was trading at $655, dropping 2.18% on the day, with bearish momentum after failing to stay above $670, indicating short-term downside pressure.

    Read also:- The Bitcoin Boom: Why Altcoins Are Missing the Rally

    Disclaimer: Bitcoinik.com presents the latest information in the cryptocurrency market. However, this information should not be regarded as financial advice, and viewers should consult their financial advisors before investing.



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  • Bitcoin Charts Suggest $97K Move: Bear Flag Pattern In Play


    Bitcoin dropped 11% from its $111K all-time peak as traders if key price levels do not hold and trade tensions keep rising, Bitcoin might fall to $ 97k.

    Main Takeaways:-

    • A bear flag pattern on the four-hour chart suggests that Bitcoin’s price could fall to $97,000.
    • Traders say Bitcoin’s price could fall as low as $85,000 if important support levels, like $100,000 and the yearly open near $92,000, are broken.

    Breakout Points Signal Move Toward $97K Target

    Bitcoin’s price has created a classic bear flag pattern on the four-hour chart. This happens when the price moves up a little in a narrow range after falling sharply, usually meaning the price will continue to go down.

    For Bitcoin, the bear flag started forming after the price hit a low of about $103,100 on May 31. The price stayed in this pattern over the weekend, often testing the lower support line of the flag.

    The downtrend will be confirmed if the price falls below the lower edge of the flag at $104,800. If that happens, the price could drop to about $97,690, which is the expected target based on the size of the previous price drop.

    Momentum tools like the Relative Strength Index (RSI) also support this idea. The RSI is at 44 now, which means the market still looks more likely to go down.

    Traders Reveal Key Bitcoin Price Zones for June

    According to Cointelegraph Markets Pro and TradingView, Bitcoin (BTC) has fallen 6.3% from its record high of over $111,000.

    Bitcoin’s price increased by 11% in May, but now traders are unsure where it will go next. In the past, June has been unpredictable, with an average small loss of 0.3%.

    According to crypto analyst Daan Crypto Trades, the key price levels to watch in early June are $99,600 (the middle range) and $108,000 (the old record high).

    The trader said there is a good chance that any price move in the first week could reverse, especially if there are early signs of a change in direction around those key levels.

    A chart shared with the post showed that if Bitcoin goes above $108,000, it could climb to its all-time high of $111,900. But at that point, it would likely face strong selling pressure and fall back down.

    Likewise, if Bitcoin falls below $99,600, the price could drop further until it finds support around $97,600, which is the 200-day average level.

    Analyst AlphaBTC said on June 2 that Bitcoin seems to have begun a bigger drop, which will probably continue into the second week of June.

    The expert said that if Bitcoin breaks down from a ‘bear flag’ pattern on the four-hour chart, its price might fall to around $102,000. If it drops below that, the price could go even lower toward the yearly opening price, which is just above $92,000.

    AlphaBTC asked, ‘What will happen around $92,000?’ They said if this level is a good chance to buy, Bitcoin might bounce back and start a strong recovery toward new highs.

    On the other hand, if trade tensions keep getting worse, Bitcoin could fall even more, down to about $85,000, according to the chart below.

    As Cointelegraph reported, Bitcoin traders are watching how the price ends each week and month to guess where it might go next. The important price points they are paying attention to are $100,000 and $97,000.

    Read also:- Is $2K BNB the Next Big Move? DeFi and ETF Hype Build the Case

    Disclaimer: We at Bitcoinik.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice, and viewers should consult their financial advisors before investing.



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