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Bitcoin ETF

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<img width="1200" height="553" src="https://coingape.com/wp-content/uploads/2024/01/gCKrKio0-e1705765157426.png" class="attachment-full size-full wp-post-image" alt="Binance Coin" decoding="async" style="float:right; margin:0 0 10px 10px;">
Binance Coin Price Prediction: Over the past three weeks, BNB, the native cryptocurrency of the world’s leading cryptocurrency exchange <a href="https://coingape.com/binance-delists-btc-eth-bnb-spot-trading-pairs-but-heres-the-catch/">Binance</a>, has experienced significant volatility. This market fluctuation, partly attributed to the uncertainties surrounding the Bitcoin ETF launch, saw BNB’s price fall from $338 to $291, registering a 14.5% decline. 
A closer examination of the Daily Timeline Chart reveals that this uncertain price movement is adhering to two downward-sloping trendlines, suggesting the formation of a bullish continuation pattern known as a Flag. 
<h2 id="b-binance-inflow-spikes-after-regulatory-settlement-b">Binance Inflow Spikes After Regulatory Settlement</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">A potential bullish breakout from the flag pattern will signal intensified buying pressure in the market.</li> 
 <li style="font-weight: 400;" aria-level="1">A correction to 38.2% Fibonacci retracement tool indicates the buyers are having an upper hand over this asset.</li> 
 <li style="font-weight: 400;" aria-level="1">The intraday trading volume in the BNB coin is $845 Million, indicating a 21% gain</li> 
</ul> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/o/oV14n6Bg.png" alt="Binance Coin Price Prediction" width="1946" height="937">
 <figcaption class="wp-caption-text">
 Binance Coin Price Prediction| TradingView Chart
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</figure> 
After a notable recovery in December 2023, the <a href="https://coingape.com/price/binance-coin/">Binance coin price</a> began 2024 on a quieter note, with its bullish momentum showing signs of fatigue. This post-rally correction phase, marked by price indecision, has been technically classified as the development of a common continuation pattern, the Flag. 
This setup suggests that the BNB price could regain its bullish energy in the coming week. Reinforcing this optimistic outlook, Binance Coin recently saw a significant capital inflow, as reported by <a rel="nofollow" href="https://x.com/esatoshiclub/status/1747952224251117732?s=20">Satoshi Club</a> in a post on X (formerly Twitter). 
<blockquote>
 Despite recent legal challenges and leadership changes, @binance has seen net inflows of $4.6 billion since its November settlement with US agencies.&nbsp; 
 In January alone, it attracted $3.5 billion, marking its strongest month since November 2022
</blockquote> 
<img decoding="async" class="aligncenter size-full wp-image-175680" src="https://coingape.com/wp-content/uploads/2024/01/GEHrUiEXQAAiPsz.png" alt="Binance inflow" width="645" height="223" srcset="https://coingape.com/wp-content/uploads/2024/01/GEHrUiEXQAAiPsz.png 645w, https://coingape.com/wp-content/uploads/2024/01/GEHrUiEXQAAiPsz-300x104.png 300w, https://coingape.com/wp-content/uploads/2024/01/GEHrUiEXQAAiPsz-150x52.png 150w" sizes="(max-width: 645px) 100vw, 645px"> 
In light of these developments and the emerging Flag pattern, there is potential for BNB to break through its upper resistance level, indicating the possibility of an impending rally. 
<h2 id="strong-flag-pattern-sets-a-30-upsurge-ahead-strong">Flag Pattern Sets a 30% Upsurge Ahead</h2> 
As of this moment, Binance Coin is trading at $314, showing signs of a bullish breakout from the <a href="https://coingape.com/education/bull-flag-pattern-in-crypto-meaning-and-how-to-identify/">Flag pattern</a>. Should this breakout occur with a daily candle closing above the pattern, it could pave the way for a 36% increase in BNB’s value, potentially reaching $430.&nbsp; 
Conversely, if market pressures continue, there’s a risk that BNB could further retract and fall below the $288 support level 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Exponential moving average. A bullish alignment between the daily <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/">EMAs</a> (20, 50, 100, and 200) indicates a strong bullish sentiment in the market</li> 
 <li style="font-weight: 400;" aria-level="1">Moving average convergence divergence: The MACD and Signal lines nearing a bullish crossover, suggesting that buyers are gaining momentum for the next upward movement.</li> 
</ul> 
<h2 id="related-articles">Related Articles:</h2> 
<ul> 
 <li><a href="https://coingape.com/binance-and-sec-court-hearing-shifted-thanks-to-snowstorm/">Binance and SEC Court Hearing Shifted Thanks to Snowstorm</a></li> 
 <li><a href="https://coingape.com/binance-issues-crucial-advisory-to-btc-xrp-ada-futures-traders/">Binance Issues Crucial Advisory to BTC, XRP, ADA Futures Traders</a></li> 
 <li><a href="https://coingape.com/bitcoin-etf-the-nine-etfs-see-volume-spike-at-week-close/">Bitcoin ETF: Fierce Competition Between BlackRock And Fidelity As Volume Jump</a></li> 
</ul> 
The post <a href="https://coingape.com/markets/binance-coin-price-prediction-flag-pattern-bnb-rally-400/">Binance Coin Price Prediction as Flag Pattern Signals $BNB Rally Beyond $400</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Binance Coin Price Prediction as Flag Pattern Signals $BNB Rally Beyond $400

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