In a recent development, the Binance coin is up by 5.32% and is at $21.48 on CoinMarketCap, down from a high of $21.60 . While Bitcoin struggles to reach $9,000, BNB has established a 30-day high.
A Look At Weekly Price Charts
The previous week, BNB was trading at in the $20-$21 range. It was then predicted that if the price doesn’t move up, a drop to $18.30 would be seen. However, the BNB/USD pair has picked up momentum and is trading at $21.48 at press time, establishing a 30-day high.
BNB has found support near the $20.8 level and is facing a strong resistance near the $21.6 and $21.7 levels. The ongoing developments on the Binance platform may further fuel the price action of BNB.
Relative Strength Index (14)- 49.4891519
Stochastic %K (14, 3, 3- 36.2234664
Commodity Channel Index (20) −26.1191020
Average Directional Index (14)- 24.0859047
Exponential Moving Average (5)- 20.2127233
Simple Moving Average (5)- 19.9837179
Latest Developments on Binance Platform
Recently, B2BinPay, a crypto payment processor integrated BNB blockchain, allowing clients to deposit and withdraw native BNB tokens. The latter also supports payments in Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Dash (DASH), Cardano (ADA).
Binance recently announced that it will support all 180 fiat currencies of the world for its direct fiat-to-crypto trading facility. With the initiative, Binance seeks to provide its customers with direct access to the large liquidit available on the exchange.
Binance currently supports five fiat currencies on its platform – Nigerian naira (NGN) and Russian ruble (RUB), euro (EUR), Ukrainian hryvnia (UAH) and Kazakhstani tenge (KZT). As a matter of fact, all the currencies have been added via third-party payment platforms AdvCash and Flutterwave.
Furthermore, Binance is also working earnestly to improve its customer services. While Binance claims to answer support tickets in 24 hours, it’s looking to shorten that time to an hour or less.
Will BNB price rally further? Let us know, what you think in the comments below!
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Coming from a physics background the unpredictability and intrigue of the cryptoverse attracted me to take a dive in this field. I am all eyes and ears for the latest trends in blockchain and crypto sphere. Whenever I am not writing or researching, I love to read sci-fi novels, play basketball and watch action movies. I strongly believe that blockchain and cryptocurrency will bring lasting transformations in people’s lives in the years to come. You can reach out to me at supriya [at] coingape.com.