Binance Coin Price Prediction as BNB Launches New ATH

adminJune 5, 2024

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Binance Coin’s price has surged 13% in the past 24 hours, trading at $705 as of 4 a.m. ET, with trading volume surging 77% to $5.26 billion.

The price of the cryptocurrency on the Binance exchange also hit an all-time high, reaching $711 a few hours ago. While all eyes were on Bitcoin, Ethereum, and meme coins, the coins showed a secret upward trend.

congrats $BNB Breaking all-time high! 🎉 pic.twitter.com/EHXXwaLqUm
— BNB Chain (@BNBCHAIN) June 5, 2024

With Binance’s continued dominance in the cryptocurrency exchange space and the growing popularity of the BSC ecosystem, this coin has plenty of reasons to rise.

Binance continues to expand its products, partner with other projects, and make strategic acquisitions and investments in new technologies.

Amazing growth of the BNB chain ecosystem! 😋
With over 1.1 million proofs across BNB chain and opBNB @BASCAN_ioThese numbers reflect the growing trust and engagement within our amazing community.
Check out the full stats below 👇 https://t.co/AIsM5o3gcO
— BNB Chain (@BNBCHAIN) June 4, 2024

The exchange continues to build strong relationships with the community and other major cryptocurrency-related organizations, and despite the challenges it has experienced over the years, it still remains the largest cryptocurrency exchange in the world.

Binance Coin Price Prediction

Binance Coin (BNB) has surged over the past 24 hours, further contributing to the growth that began in early June. However, while BNB has enjoyed tremendous success over the past five days, the question now is whether it can continue to rise, or whether the price will soon bounce back and begin a correction.

There is no doubt that the Binance Coin price has seen a huge surge that has greatly rewarded holders. However, looking at certain technical indicators, there is a possibility that the holder may soon oversell the coin and try to take profits.

For example, the BNB Relative Strength Index (RSI) appears to be in an overbought zone, which many would take as a signal to start selling. Data on the 30-minute chart shows that the RSI value was much higher just a few hours ago and reached the 90 value around the time BNB reached its all-time high.

Afterwards, it was slightly adjusted to 71, which is not much different from the price itself. But this is just a hint of what’s to come. This is because large, sharp rises usually also result in large corrections. The only way this doesn’t happen is if the cryptocurrency industry suddenly explodes with a new massive price rally like what we saw in 2021 and 2017 before that.

Binance Coin Price Prediction

On the other hand, the coin may continue to grow, or at least maintain its current price if the hype continues. Looking at indicators such as Bollinger Bands, it is encouraging to see that the market remains bullish at the moment and BNB price is close to the upper band.

The bands are also quite wide, which is another bullish signal. However, this contrast with the RSI action suggests that large volatility could be coming, so anyone using BNB should be cautious in the coming hours and even days.

A promising alternative to Binance Coin

Binance’s price surge has been impressive, but there is another project that users can consider that has enormous potential.

The project in question is eTukTuk, an interesting peer-to-peer game inspired by Crazy Taxi and currently available for Android and iOS.

This allows players to take on the role of an eTukTuk driver and freely navigate the busy streets of Sri Lanka. Here you can perform quests, participate in races, and earn TUK tokens.

Are you ready to customize, race and earn using your virtual eTuktuk in TukTribe, the greenest and most exciting game ever? 🛺💚
Every race you win helps us drive sustainability and innovation and guide us through the end of pre-sale. $TUK Major listing… pic.twitter.com/kM1OVfp75i
— eTukTuk (@eTukTukio) June 4, 2024

You can then withdraw the tokens to your wallet or use them to unlock new cities in-game, customize your eTukTuk, and more.

Meanwhile, presales for the project are surging as $3.5 million in financing closes.

Jacob Crypto Bury, a cryptocurrency YouTuber with over 40,000 subscribers, speculated that this could be the next potential 10x cryptocurrency.

The pre-sale offers TUK tokens for $0.0325 each and can be purchased with ETH, BNB, USDT or credit/debit cards. The token will see its next price increase in just 4 days, so the best time to buy is before the increase takes place.

Buy TUK tokens on the official website here.

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