Billion

Reversal

The post <a href="https://coinpedia.org/price-analysis/bnb-price-eyes-52-week-high-breakout-will-the-bear-market-allow/" rel="noopener noreferrer nofollow">BNB Price Eyes 52-Week High Breakout: Will The Bear Market Allow?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
With the ongoing crash in the crypto market, the impact on BNB price leads to a sharp drop of 4.08% overnight. The native token of Binance takes a quick reversal from the $320 mark, threatening a deeper correction for short-term traders.&nbsp;
The quick drop undermines the recent V-shaped reversal from the crucial mark of $300 and warns of a second brawl. Moreover, with the ongoing sell-off in the overall market, the chances of a bearish trend are increasing and hurting the overall sentiments.&nbsp;
Despite the looming bearish clouds, the long-term market predictions are expecting a bullish 2024. With multiple catalysts along the way, our <a href="https://coinpedia.org/price-prediction/bnb-binance-coin-price-prediction/" rel="noopener noreferrer nofollow">Binance price prediction</a> projects how high will BNB price go in 2024?
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="483" src="https://image.coinpedia.org/wp-content/uploads/2024/01/23113107/image-123-1024x483.png" alt="" class="wp-image-263430" srcset="https://image.coinpedia.org/wp-content/uploads/2024/01/23113107/image-123-1024x483.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/01/23113107/image-123-300x142.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/01/23113107/image-123-768x362.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/01/23113107/image-123-1536x725.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/01/23113107/image-123-150x71.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/01/23113107/image-123.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
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Source- <a href="https://www.tradingview.com/x/BBkW6Z8b/" rel="noopener noreferrer nofollow">Tradingview</a>
As the overnight drop changes the dynamics of the BNB price trend from a recovery position to a pullback phase, the altcoins are facing serious pressure. However, Binance keeps an overall positive trend in motion, and the minor drop seems like a retest in sync with the market movement.&nbsp;
With a 51% growth in the last 100 days, the BNB price is gaining momentum to drive the uptrend and is positioned well above $300. Further, with the $15.69 Billion 24-hour trading volume, Binance places itself as the top centralized crypto exchange.&nbsp;
Currently, the BNB price trades at $310.8 with an intraday rise of 1.67%, representing a stronger comeback following the late-night jump. Hence, the underlying demand for the BNB token is strong and may push past the 52-week high of $352 under a recovering or comparatively stable market condition.
MACD Indicator: With the quick reversal in the BNB price, the MACD and signal lines fail to give a bullish crossover. Further, with the increasing intensity of the bearish histograms, the momentum indicator showcases a strong bear attack last night.&nbsp;
<h2 class="wp-block-heading" id="h-will-bnb-price-manage-a-reversal-this-week">Will BNB Price Manage A Reversal This Week?</h2>
With a 4% drop at the start of this week, the tone is set bearish for the BNB price trend. However, the intraday growth and the prevailing uptrend light the hope of a bull run above the $320 mark.&nbsp;
As per the Fibonacci levels, the 78.60% Fibonacci level breakout at $320 can result in a price jump to the $350 mark. On the other hand, a reversal may test the $300 psychological mark.&nbsp;

BNB Price Eyes 52-Week High Breakout: Will The Bear Market Allow?

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