{"id":352938,"date":"2024-07-26T23:14:25","date_gmt":"2024-07-26T17:44:25","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=352938"},"modified":"2024-07-26T23:14:25","modified_gmt":"2024-07-26T17:44:25","slug":"will-bnb-price-rise-ahead-of-changpeng-zhaos-september-release-crypto-news-2","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/will-bnb-price-rise-ahead-of-changpeng-zhaos-september-release-crypto-news-2\/","title":{"rendered":"Will BNB Price Rise Ahead of Changpeng Zhao’s September Release? – Crypto News"},"content":{"rendered":"

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Amid the early week sell-off, the BNB price recorded a notable pullback from $605 to $553, registering a loss of 8.6%. However, the correction was short-lived as the broader market witnessed a rebound and rumors that Binance\u2019s former CEO Changpeng Zhao will be released from Jail next month. The demand surged around the $555 level and offered buyers suitable support to prolong the current recovery.<\/span><\/p>\n

Changpeng Zhao Not Set for Early Release: Debunking the Myths<\/b><\/h2>\n

This week, rumors circulated on X (formerly known as Twitter) among Binance<\/a> enthusiasts that the exchange\u2019s founder, Changpeng Zhao (CZ), would be released from prison on August 30. However, these claims were later confirmed to be unfounded.<\/span><\/p>\n

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@cz_binance<\/a> was sentenced to four months in prison on Tuesday, April 30, 2024.<\/p>\n

If he had started his jail time right away, his due date to be a free man would be August 30, 2024.#facts<\/a> https:\/\/t.co\/kk9tVKabkG<\/a><\/p>\n

\u2014 Pahueg \ud83c\udf10 (@pahueg) July 23, 2024<\/a><\/p>\n<\/blockquote>\n

Confusion arose from a misconception that CZ\u2019s imprisonment started on April 30, when US District Judge Richard Jones issued a four-month prison sentence for him in Seattle. However, due to some procedural delays in the criminal justice system, his term did not begin until late May.<\/span><\/p>\n

A recent verification using the Bureau of Prisons database revealed that Changpeng Zhao (CZ) is not scheduled for release until September 29, 2024. Contrary to previous reports, he is not housed at the Seattle-based Seatac prison but is instead serving time at the Federal Correctional Institution Lompoc II, a low-security federal facility located three hours north of Los Angeles.<\/span><\/p>\n

\"\"<\/span><\/p>\n

BNB Price Eyes $720 Breakout amid Wedge Pattern Formation<\/span><\/h2>\n

<\/p>\n

Over the past 4-months, the BNB price<\/a> showcased a sideways trend resonating within a broadening wedge pattern. In theory, the diverging trendlines indicate market uncertainty and a need for a trendline breakout to regain direction rally.<\/span><\/p>\n

Amid the recent market recovery, the Binance coin rebounded from the pattern\u2019s support trendline at $454. The bullish turnaround uplifted the asset 32% to $603 before a short pullback.<\/span><\/p>\n

\"BINANCE:BNBUSDT\"BINANCE:BNBUSDT
BNB Price| Tradingview<\/figcaption><\/figure>\n

This rising price reclaimed daily EMAs<\/a> (20, 50, 100, and 200) highlights a positive shift in market sentiment. The BNB coin currently trades at $578 and holds a market cap of $84.4 Billion.<\/span><\/p>\n

<\/p>\n

However, the circulated rumor accentuates that the upcoming CZ release could boost BNB\u2019s price and bolster the ongoing rally. If the buying momentum persists, BNB could potentially exceed its all-time high of $720.67 and approach the wedge resistance near $850. A decisive breakout from this resistance will signal a sustainable directional trend.<\/span><\/p>\n

On a contrary note, if the overhead trendline persists, the ongoing sideways trend could prolong and spark a fresh correction.<\/span><\/p>\n

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Frequently Asked Questions (FAQs)<\/h2>\n
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\n \tChangpeng Zhao, commonly known as CZ, is the founder and former CEO of Binance, one of the world’s largest cryptocurrency exchanges<\/p>\n<\/p><\/div>\n<\/p><\/div>\n

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\n \tThe false rumors about CZ’s early release might have temporarily influenced market sentiment, potentially causing volatility in BNB’s price. <\/p>\n<\/p><\/div>\n<\/p><\/div>\n

\n
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\n \tbroadening wedge pattern is a technical analysis chart pattern characterized by two diverging trendlines that form a widening channel. This pattern indicates market uncertainty.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n

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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

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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

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Amid the early week sell-off, the BNB price recorded a notable pullback from $605 to $553, registering a loss of 8.6%. However, the correction was short-lived as the broader market witnessed a rebound and rumors that Binance\u2019s former CEO Changpeng Zhao will be released from Jail next month. The demand surged around the $555 level […]<\/p>\n","protected":false},"author":2,"featured_media":288873,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-352938","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/352938","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=352938"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/352938\/revisions"}],"predecessor-version":[{"id":352959,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/352938\/revisions\/352959"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/288873"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=352938"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=352938"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=352938"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}