Coin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/binance-coin-shows-rapid-recovery-in-recent-days/" data-wpel-link="internal">Binance Coin Shows Rapid Recovery in Recent Days</a><br></p>
<p style="text-align: justify"><strong>Binance coin (BNB)</strong> has shown a rapid recovery in the last few days, reaching $630 just yesterday. The altcoin was trading at $570 on the 20th of the month but is now trading around $619 after a slight dip.</p> 
<h2 id="network-updates-in-bnb">Network Updates in BNB</h2> 
<p style="text-align: justify">Despite the exchange’s legal issues in the US and Nigeria, the rise in BNB’s price yesterday clarified the demand for this cryptocurrency. BNB is among the top five cryptocurrencies due to its high <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market</a> value and is the native token of Binance, the largest centralized exchange. The bullish sentiment in the <a href="https://en.coin-turk.com/binance-prepares-for-mica-significant-regulations-for-crypto-exchanges-on-the-horizon/" data-wpel-link="internal">crypto market</a> has helped BNB’s price rise. However, two significant factors stand out following this rise: Binance network development updates and the excitement around the <strong>Ethereum</strong> ETF in the market.</p> 
<p style="text-align: justify"><strong>Ethereum</strong> Spot ETF has faced strong rejection prospects for months, but Bloomberg analysts foresee very positive <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">news</a> that could create a greedy atmosphere in the market. Bloomberg ETF analyst James Seyffart predicted a 75% approval chance in an X post based on current hints regarding the SEC’s decision day. Investors expect a rise in BNB’s price with the anticipation of Ethereum <strong>ETF</strong> approval this Thursday.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-354555 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/bnb-1.jpg" alt="" width="832" height="457"></p> 
<h2 id="price-analysis-in-bnb">Price Analysis in BNB</h2> 
<p style="text-align: justify">However, the possibility of rejection could drop the <strong>BNB</strong> price from its current high to $550. Analysts have opened leveraged long positions worth $60 million at a price level of $548.6 in the derivatives market. Both bulls and bears are active in the current position. Bulls are pushing purchases to reach resistance, but bears are increasing sales to find support. Moreover, BNB price charts show an asymmetric triangle pattern with lower highs and higher lows. Consequently, the price of <strong>BNB</strong> could target $650 but may correct down to $600.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/binance-coin-shows-rapid-recovery-in-recent-days/" data-wpel-link="internal">Binance Coin Shows Rapid Recovery in Recent Days</a></h5>

Binance Coin Shows Rapid Recovery in Recent Days

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