Manta Network

Bitcoin

Spot

Coin

<img width="1200" height="551" src="https://coingape.com/wp-content/uploads/2024/01/CQ84EvDY-e1705342750589.png" class="attachment-full size-full wp-post-image" alt="Binance Coin Price Prediction" decoding="async" style="float:right; margin:0 0 10px 10px;">
Binance Coin Price Prediction: The recent underperformance of Bitcoin, particularly in light of the anticipated launch of the <a href="https://coingape.com/michael-saylor-delivers-crucial-warning-to-bitcoin-community/">Spot Bitcoin ETF</a>, has sparked a wave of selling across the altcoin market. This downturn has affected a wide array of major cryptocurrencies, including <a href="https://coingape.com/binance-assures-indian-users-on-safety-of-funds-amid-regulatory-crackdown/">Binance Coin (BNB)</a>, the native token of the world’s largest cryptocurrency exchange. Despite a relatively moderate pullback compared to other altcoins, Binance Coin has experienced a 6.5% decline from its previous high of $338, now trading around $316. 
<h2 id="strong-will-post-correction-rally-push-binance-coin-to-400-strong">Will Post-Correction Rally Push Binance Coin to $400?</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">A healthy retracement accentuates the BNB price uptrend intact.</li> 
 <li style="font-weight: 400;" aria-level="1">A bullish breakout from the flag pattern will trigger a directional rally.</li> 
 <li style="font-weight: 400;" aria-level="1">The intraday trading volume in the BNB coin is $1.59 Billion, indicating a 113% gain</li> 
</ul> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/c/CQ84EvDY.png" alt="Binance Coin Price Prediction" width="1946" height="893">
 <figcaption class="wp-caption-text">
 Binance Coin Price Prediction| TradingView Chart
 </figcaption>
</figure> 
This current market correction reflects a sense of uncertainty among investors. However, a closer examination of BNB’s daily time chart reveals that the correction is occurring within a bullish flag pattern, bounded by two parallel trend lines.&nbsp; 
<blockquote>
 This suggests that the current movement of <a href="https://coingape.com/price/binance-coin/">Binance Coin price</a> is a natural consolidation phase following a rally, providing a necessary pause for buyers. Moreover, the declining price trading above the 50% Fibonacci retracement level indicates the prevailing bullish trend intact.
</blockquote> 
At the time of writing, Binance Coin is trading at $370, showing a 6% increase and hinting at a potential bullish breakout from the flag pattern. If the daily candle closes above the upper trendline, it could serve as a robust foundation for Binance Coin to continue its recovery.&nbsp; 
Should this breakout occur, the price of BNB may aim for successive targets of $360 and $420, representing a potential growth of 35-38%. 
<h2 id="span-style-font-weight-400-bnb-vs-btc-performance-span">BNB vs BTC Performance</h2> 
<figure id="attachment_174295" aria-describedby="caption-attachment-174295" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-174295 size-full" src="https://coingape.com/wp-content/uploads/2024/01/image_2024-01-15_23-40-19.png" alt="Binance Vs Bitcoin Price" width="1780" height="787" srcset="https://coingape.com/wp-content/uploads/2024/01/image_2024-01-15_23-40-19.png 1780w, https://coingape.com/wp-content/uploads/2024/01/image_2024-01-15_23-40-19-300x133.png 300w, https://coingape.com/wp-content/uploads/2024/01/image_2024-01-15_23-40-19-1224x541.png 1224w, https://coingape.com/wp-content/uploads/2024/01/image_2024-01-15_23-40-19-768x340.png 768w, https://coingape.com/wp-content/uploads/2024/01/image_2024-01-15_23-40-19-1536x679.png 1536w, https://coingape.com/wp-content/uploads/2024/01/image_2024-01-15_23-40-19-150x66.png 150w" sizes="(max-width: 1780px) 100vw, 1780px">
 <figcaption id="caption-attachment-174295" class="wp-caption-text">
 Source: Coingape| Binance Vs Bitcoin Price
 </figcaption>
</figure> 
Over the last quarter, both Binance coin and Bitcoin have demonstrated a positive trajectory. However, the current market uncertainty, especially those revolving around the Spot Bitcoin ETF, has somewhat hindered the growth momentum of BNB price, as seen in its formation of lower highs. Meanwhile, the <a href="https://coingape.com/price/bitcoin/">Bitcoin price</a> has been charting a more steady upward course, consistently setting new, higher highs and lows. This contrast underscores the underperformance of the Binance coin with the broader market sentiment. 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Bollinger Band: The narrow range of the <a href="https://coingape.com/education/bollinger-band/">Bollinger Band indicator</a> accentuates the market sentiment is highly volatile.</li> 
 <li style="font-weight: 400;" aria-level="1">Moving average convergence divergence: A potential bullish crossover between <a href="https://coingape.com/glossary/macd-moving-average-convergence-divergnece/">MACD</a> and the signal line will give an early signal for flag breakout.</li> 
</ul> 
<h3 id="related-articles">Related Articles:</h3> 
<ul> 
 <li><a href="https://coingape.com/binance-dethroned-as-indian-traders-flock-to-local-firms-amid-regulatory-scrutiny/">Binance Dethroned As Indian Traders Flock To Local Firms Amid Regulatory Scrutiny</a></li> 
 <li><a href="https://coingape.com/binance-adds-manta-network-as-manta-pacific-tvl-surpass-800-mln/">Binance Adds Manta Network As Manta Pacific’s TVL Surpass $800 Mln</a></li> 
 <li><a href="https://coingape.com/bitcoin-btc-price-to-touch-1m-in-days-to-weeks-samson-mow/">Bitcoin (BTC) Price to Touch $1M in Days to Weeks – Samson Mow</a></li> 
</ul> 
The post <a href="https://coingape.com/markets/binance-coin-price-prediction-as-strategic-pause-sees-35-surge/">Binance Coin Price Prediction as Bullish Pattern Amid Strategic Pause Sees 35% Surge</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Binance Coin Price Prediction as Bullish Pattern Amid Strategic Pause Sees 35% Surge

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