{"id":293638,"date":"2024-05-01T20:05:15","date_gmt":"2024-05-01T14:35:15","guid":{"rendered":"https:\/\/dripp.zone\/news\/why-binance-coin-price-can-overcome-market-turmoil-to-rally-beyond-700-crypto-news\/"},"modified":"2024-05-01T20:05:19","modified_gmt":"2024-05-01T14:35:19","slug":"why-binance-coin-price-can-overcome-market-turmoil-to-rally-beyond-700-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/why-binance-coin-price-can-overcome-market-turmoil-to-rally-beyond-700-crypto-news\/","title":{"rendered":"Why Binance Coin Price Can Overcome Market Turmoil to Rally Beyond $700? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><span style=\"font-weight: 400;\">Binance Coin Price: BNB, the native cryptocurrency of the world\u2019s leading cryptocurrency exchange has witnessed a notable downswing amid the recent market sell-off. The Binance coin plunged from $618 to its current trading price of $550 recording a 10.9% weekly loss. Will the four-month sentencing of former <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/doj-sweet-deal-for-binance-changpeng-zhao-faces-backlash\/\">Binance CEO CZ<\/a> increase selling pressure on BNB?<\/span><\/p>\n<p>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/bitcoin-correction-analyst-explains-how-this-btc-retreat-different\/\">Bitcoin Correction: Analyst Explains How This BTC Retreat Is Different<\/a><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<h2><b>Bullish Pennant Pattern Keep Uptrend Intact For BNB?<\/b><\/h2>\n<figure style=\"width: 1946px\" class=\"wp-caption alignnone\"><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/s3.tradingview.com\/snapshots\/t\/TTsuJwlX.png\" alt=\"BINANCE:BNBUSDT Chart \" width=\"1946\" height=\"893\"\/><\/noscript><figcaption class=\"wp-caption-text\">Binance Coin Price Analysis| Tradingview<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Over the past seven weeks, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/binance-coin\/\">Binance coin price<\/a> has traded sideways, resonating within two converging trendlines of pennant pattern formation. In theory, this consolidation is considered a short breather for buyers to regain strength and breach the upper boundary for a prolonged rally.<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">However, with the ongoing market sell-off and a four-month prison sentence for Changpeng Zhao, the former CEO of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/binance-founder-cz-bids-thanks-to-supporters-shares-post-prison-plans\/\">Binance<\/a>, for violating U.S. money laundering laws, the BNB price extends its lateral momentum with no definitive breakout in sight.<\/span><\/p>\n<\/blockquote>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p><span style=\"font-weight: 400;\">Having said that, the bullish pennant pattern is still intact, and the BNB price trading above the 38.6% Fibonacci retracement level indicates a healthy pullback for buyers to remain in power.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If the bearish momentum persists, the Binance coin may plunge another 5% to retest the lower trendline. The potential demand pressure at this support should uplift the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/binance-crypto-exchange-hkvaex-ceases-withdrawals-hong-kong-etf-debut\/\">BNB price<\/a> to rechallenge the upper trendline for a breakout.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p><span style=\"font-weight: 400;\">A successful breakout will release the build-up of bullish momentum and drive a rally to initiate a target of around $770.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Conversely, a breakdown below the pennant support will signal a prolonged downfall below the $500 psychological level.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Technical Indicator:\u00a0<\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Exponential moving average.<\/b><span style=\"font-weight: 400;\"> The coin price trading above the daily EMAs (50, 100, and 200) indicates the broader trend remains bullish.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Average Directional Index<\/b><span style=\"font-weight: 400;\">: An uptick in the daily ADX slope at 15% indicates the selling momentum is strengthening and holders must be cautious at crucial support like the lower trendline of the pennant.<\/span><\/li>\n<\/ul>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p class=\"m-0\">Related Articles<\/p>\n<div class=\"m-on mobiless\">\n<div id=\"social-section-new\">\n<p>\u2713 Share:<\/p>\n<p>                                  <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new wp_new\" href=\"https:\/\/api.whatsapp.com\/send?text=https:\/\/coingape.com\/markets\/can-binance-coin-price-overcome-market-turmoil-rally-700\/\" style=\"display: block\">  <i class=\"fa fa-whatsapp\"\/><\/a><\/p>\n<div>\n                                <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new tw_new_logo\" href=\"https:\/\/twitter.com\/intent\/tweet?text=https:\/\/coingape.com\/markets\/can-binance-coin-price-overcome-market-turmoil-rally-700\/\"><br \/>\n  <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\" class=\"mb-1\" alt=\"coingape\" width=\"30\" height=\"30\"\/><br \/>\n<\/a>\n                                <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>          <!-- \n\n<div class=\"m-on pl-2 pr-2\">\n            \n\n<div class=\"row\">\n            \n\n<div class=\"col-6 pr-2\">\n         \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-7-crypto-marketing-firms-of-the-year\/?utm_source=abovesidebartabnews&utm_medium=organicarticle\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/15175104\/top_crypto_marketing_agencies.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                  \n\n<div class=\"col-6 pl-2\">\n                 \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-10-web-3-games-to-explore-in-2023-here-list\/\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/23134356\/jpg_20221223_134223_0000.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                <\/div>\n\n\n        <\/div>\n\n                    --><\/p>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA194653\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD194653\">\n<p>  The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p><!-- \n\n<div class=\"container p-1 mb-3  mt-4 \">\n    \n    \n     \n\n<div class=\"Maintitle clgrn border-0\">\n               <span>Crypto Stories<\/span>\n                    \n                    \n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/\" class=\"viewAll p-0\">View all<\/a>\n                <\/div>\n\n\n     \n\n<div class=\"row mobileXS \">\n                     \n          \n\n<div class=\"item col-md-4\"> \n        \n\n<div class=\"Newseducation\">\n         \n\n<div class=\"Eduimg WduImg\">\n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/5-important-highlights-from-the-recent-fed-meeting\/?utm_source=post&utm_medium=web-story\">\n            \n\n<div class=\"edIm StoryWebimg\"><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/03\/cropped-GettyImages-1556780583-bb9b6dd6fddd47e1b1453cb82cea5bb0.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"5 Important Highlights from the Recent Fed Meeting\" decoding=\"async\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/03\/cropped-GettyImages-1556780583-bb9b6dd6fddd47e1b1453cb82cea5bb0.jpg 640w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/03\/cropped-GettyImages-1556780583-bb9b6dd6fddd47e1b1453cb82cea5bb0-225x300.jpg 225w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/03\/cropped-GettyImages-1556780583-bb9b6dd6fddd47e1b1453cb82cea5bb0-150x200.jpg 150w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/div>\n\n\n                \n\n<div class=\"Educontent\">5 Important Highlights from the Recent Fed Meeting <\/div>\n\n\n            <\/a>\n            <\/div>\n\n\n        <\/div>\n\n\n        <\/div>\n\n\n          \n          \n  \n              \n          \n\n<div class=\"item col-md-4\"> \n        \n\n<div class=\"Newseducation\">\n         \n\n<div class=\"Eduimg WduImg\">\n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/chatgpts-next-big-upgrade-what-you-need-to-know\/?utm_source=post&utm_medium=web-story\">\n            \n\n<div class=\"edIm StoryWebimg\"><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/03\/cropped-chatgpt-cute-robot_11zon.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"ChatGPT's Next Big Upgrade: What You Need to Know\" decoding=\"async\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/03\/cropped-chatgpt-cute-robot_11zon.jpg 640w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/03\/cropped-chatgpt-cute-robot_11zon-225x300.jpg 225w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/03\/cropped-chatgpt-cute-robot_11zon-150x200.jpg 150w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/div>\n\n\n                \n\n<div class=\"Educontent\">ChatGPT\u2019s Next Big Upgrade: What You Need to Know <\/div>\n\n\n            <\/a>\n            <\/div>\n\n\n        <\/div>\n\n\n        <\/div>\n\n\n          \n          \n  \n              \n          \n\n<div class=\"item col-md-4\"> \n        \n\n<div class=\"Newseducation\">\n         \n\n<div class=\"Eduimg WduImg\">\n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/5-reasons-behind-mega-banks-2024-ethereum-price-prediction\/?utm_source=post&utm_medium=web-story\">\n            \n\n<div class=\"edIm StoryWebimg\"><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/01\/cropped-shutterstock_1958528764_10.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"5 Reasons behind Mega Bank's 2024 Ethereum Price Prediction\" decoding=\"async\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/01\/cropped-shutterstock_1958528764_10.jpg 640w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/01\/cropped-shutterstock_1958528764_10-225x300.jpg 225w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/01\/cropped-shutterstock_1958528764_10-150x200.jpg 150w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/div>\n\n\n                \n\n<div class=\"Educontent\">5 Reasons behind Mega Bank\u2019s 2024 Ethereum Price Prediction <\/div>\n\n\n            <\/a>\n            <\/div>\n\n\n        <\/div>\n\n\n        <\/div>\n\n\n          \n          \n  \n     \n                              \n          <\/div>\n\n\n    \n          \n \n    \n            \n    <\/div>\n\n        --><\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Binance Coin Price: BNB, the native cryptocurrency of the world\u2019s leading cryptocurrency exchange has witnessed a notable downswing amid the recent market sell-off. The Binance coin plunged from $618 to its current trading price of $550 recording a 10.9% weekly loss. Will the four-month sentencing of former Binance CEO CZ increase selling pressure on BNB? [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":273506,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-293638","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/293638","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=293638"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/293638\/revisions"}],"predecessor-version":[{"id":293639,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/293638\/revisions\/293639"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/273506"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=293638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=293638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=293638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}