Crypto

Binance Coin Price Targets $23 in Renewed Uptrend

It is rather evident a lot of cryptocurrency enthusiasts keep a close eye on what is happening to the Binance Coin price. Since this is one of the best-performing tokens on the market today, it is only normal so many people will try to make good money with BNB. Even today, the uptrend still appears to be in effect, although one has to wonder if the value can hit $23 or higher before the sentiment reverses course.

Binance Coin Price Keeps Going

Although bullish momentum is not uncommon in the cryptocurrency industry, it doesn’t happen all that often one specific market remains subject to this momentum for months on end. In the case of Binance Coin, there has not been a lack of bullish momentum for quite some time now, despite a few dips and bruises along the way. For traders and speculators, this is a gift that keeps on giving in many different ways.

To put this in perspective, the Binance Coin price has risen by another 4.82% to elevate its value to $22.81. There is also a 3.34% improvement in BNB/BTC and a 4.81% gain in BNB/ETH. All of these signs confirm the interest in this token hasn’t diminished in the slightest, albeit one has to wonder how long things can continue along these lines. As long as the overall trading volume remains at its current level – or even rises slightly – there is a chance a push to $23 might materialize throughout this week.

Even though the BNB price is still heading in the right direction, some people are not too happy with what is going on Binance itself. Especially when it comes to BTT/BTC trading, there appear to be plenty of “odd” sell walls. Andy Sheu claims this is the fault of Binance’s CEO for not putting this activity to an end. It remains to be seen if such allegations will influence the BNB price in any way, though.

In completely different news, it would appear BNB will be subjected for margin trading in the near future. According to some information Reddit, it would appear both the BNB/BTC and BNB/USDT pairs will become eligible, along with 7 other trading pairs. It will be interesting to see how things will play out in this regard, as margin trading can create a lot of price volatility for any of the supported pairs.

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Regardless of everything going on behind the scenes, it appears Bitcoin Florida Gator is more than happy with the way things are going right now. This user is pleased to see the BNB price move up again, after the recent push to $25 was rejected in a rather violent manner. Whether or not there will be another attempt at breaking that resistance level in the near future, is rather difficult to predict as of right now.

For those cryptocurrency traders looking to make a quick buck, it would appear Binance Coin remains one of the more solid options as of right now. How long that situation will remain in place, is a different matter altogether, as Binance Coin has been on a bullish run for as long as most people can remember. All good things come to an end eventually, yet it seems BNB will try to stave off the inevitable for as long as possible.


Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

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