Bitcoin has reclaimed the $69,000 mark, and ETF inflow/outflow data is not yet fully available. Volatility is on the rise. Cryptocurrency investors have had a busy agenda this week, and after a long pause, the SEC has once again managed to pump negativity into the markets. So, what are the current price predictions for BNB Coin?
Binance Coin (BNB)
BNB Coin’s price is finding buyers at $574 as of the time this article was written, and BTC‘s price fluctuations have painted altcoins red. Examining on-chain data for BNB Coin can be useful for predictions about its future price. The number of transactions for BNB has largely remained stable since the end of February 2024.
However, while the price was at $313 in January, it climbed to levels around $640 on March 15. When looking at the largest altcoins by market value, BNB’s annual price growth is only trailing NEAR, BCH, and TON.
The steady number of daily transactions indicates that investor interest in the network remains strong despite price fluctuations. However, with the RSI returning from the peaks of the overbought zone at 84, there is potential for the price rise not to continue for long.
BNB Coin Price Prediction
Bitcoin price volatility creates imbalances in the charts, but for BNB Coin, short-term moving averages surpassing long-term ones signal an uptrend. If BNB Coin bulls remain strong, a gradual price increase is likely. In this scenario, the main resistance targeted will be the $645 level before reaching the all-time high.
However, if the BTC correction deepens, a rapid drop to the main support area at $497 wouldn’t be surprising. The effects of the upcoming macroeconomic data on Friday and the decision in the Coinbase case are expected to be better understood in the next few days.
In light of the possibility of a deeper correction in the crypto markets, investors should be cautious and more selective when setting stop regions. For now, Bitcoin is recovering from the daily low of $68,359 at $69,400.
