Ethereum

when

Rise

Coin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-predicts-significant-rise-for-binance-coin/" data-wpel-link="internal">Analyst Predicts Significant Rise for Binance Coin</a> 
Bluntz, a cryptocurrency analyst and trader known by the nickname Bluntz, has made a bullish forecast for <a href="https://en.coin-turk.com/bnb-chain-bnb-will-it-reach-its-end-of-year-target-analysts-comments/" data-wpel-link="internal">Binance Coin</a> (BNB), which is among the top 10 altcoins by market value. The analyst expects BNB to rise to four-digit levels. The analyst also analyzed the outlook of the altcoin king Ethereum (ETH) against the largest cryptocurrency Bitcoin (BTC). 
<h2 style="text-align: justify" id="strong-expecting-1-200-for-bnb-strong">Expecting $1,200 for BNB</h2> 
Sharing his BNB analysis on his personal account on the social media platform X, Bluntz predicted that the altcoin is ready for a significant price increase and could potentially reach four-digit levels. 
Bluntz’s analysis shows that BNB, the mainnet asset of the BNB Chain ecosystem, will reach at least a thousand dollars. This optimistic forecast is based on <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">technical analysis</a>, specifically the Elliott Wave theory that the analyst occasionally uses. According to this theory, BNB’s price will follow a five-wave pattern and rise to approximately $1,200. Bluntz’s price projection corresponds to a 71% increase from the current trading level. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-359711" src="https://coin-turk.com/wp-content/uploads/2024/06/Altcoin-Binance-Coin-BNB.jpeg" alt="" width="1103" height="557"> 
As of now, BNB is trading at $700, just below its all-time high of $710 reached on June 5. Consistent upward momentum suggests that BNB’s <a>price</a> could soon surpass this previous peak and fulfill Bluntz’s bullish forecast. 
A key component of Bluntz’s analysis, the Elliott Wave theory, suggests that the main trend in an asset’s price moves in a five-wave pattern, followed by a corrective three-wave pattern. This framework supports the forecast for a significant upward movement for BNB <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">in the near future</a>. 
<h2 style="text-align: justify" id="strong-ethereum-bitcoin-analysis-strong">Ethereum/Bitcoin Analysis</h2> 
In addition to his positive outlook on BNB, Bluntz also commented on the Ethereum/Bitcoin (ETH/BTC) trading pair. The analyst noted that following a bearish breakdown observed on the 12-hour time frame chart, the downtrend appears to have ended. A bearish divergence occurs when an indicator like the Relative Strength Index (RSI) shows a downward trend while the asset’s price rises, signaling a potential reversal. 
Bluntz emphasized that a significant move is imminent for the ETH/BTC trading pair and that it is currently curving towards an upward trajectory. At the time of his analysis, Ethereum was trading at 0.05358 against Bitcoin, equivalent to $3,802. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-predicts-significant-rise-for-binance-coin/" data-wpel-link="internal">Analyst Predicts Significant Rise for Binance Coin</a></h5>

Analyst Predicts Significant Rise for Binance Coin

Table of Contents

COINTURK NEWS

Other articles published on Jun 6, 2024

Bitcoiner Michael Saylor's Call to Action as Bitcoin (BTC) Trades Above $71,100

US Treasury: AI brings huge opportunities, risks to financial stability

Bitcoin Price Prediction As Fear And Greed Index Hits ”Extreme Greed” And Traders Pivot To The 99...

BlockDAG’s Keynote 2 Triumph Shines Beyond the Cardano Price Rally and VeChain News on Positive D...

Pepe Coin & Internet Computer Investors Set their Eyes on MoonBag Top Crypto Presale in 2024 Afte...

MoonBag’s 88 Percent APY Staking Outshines Render’s Bearish Trends and Dogeverse Issues

Join our free newsletter for daily crypto updates!