Binance Coin (BNB) News

Binance Lures Strategic Updates; BNB Coin is Yet to Experience a Push

Binance weekly report has listed a total of 45 upgrades wherein the Binance Access has Launched from the point of view of a B2B solution, which facilitates merchants, vendors, and the wallet holders to have a feature of converting the native fiat to crypto. E-Wallet Advcash has integrated with Binance Access for extending this facility of exchanging the native fiat.

Alongside the weekly updates under Binance futures and options have launched KNC/USDT and ZRX/USDT perpetual contracts on June 22 and 24, respectively, which totals up to 29 perpetual contracts from Binance Futures. Also, Binance Futures has recorded over 2x growth from institutional clients in Quarter 1. Binance Future has also updated the risk and margin services of THETA/USDT, now offering leverage of 50x.

The next in the line is an update regarding BNB, Fiat, and Stable coins wherein Binance has added bank transfers for Euro and Pound to facilitate the people with extended services. Binance has partnered with Clear Junction to accept direct Bank transfers through Single Euro Payment Area (SEPA) specifically for EUR and Faster Payments (FPS) for GBP.

Moreover, it was just in the previous week when Binance enabled trading for BTC/UAH and USDT/UAH. Additionally, the BUSD is listed on OceanEx and is now on many more exchanges as well. BNB use case has now identified five more areas where it can be used to Play, Shop, and Eat on the BPLAY gaming platform using the Binance account.

Binance Exchange has now listed DigiByte and Compound for networkers, and Binance Savings now supports three more cryptos. Moreover, Binance has been just doing great with promotions and community spread of its network and its native token to add maximum users to the premier global platform for cryptocurrency trade and aligned services.

Binance Price Analysis

Binance Coin News
BNB/USD Chart By TradingView

On the 12-hourly chart, Binance Coin lacks momentum if compared to the altcoins that flourished in his altcoin season like VET, XVG, DGB, etc. However, many altcoins did not fall the spiking league, and BNB Coin is one of them. Moreover, many altcoins like Ethereum, XRP, and ADA have been maintaining a flat curve with a narrow trading range. Still, BNB’s 12-hourly chart shows a mild inverse parabolic, and the ongoing month has been the other half of the inverse parabola.

On the 12-hourly YTD chart, we see that Binance Coin was seen drawing a visible uptrend until the previous month when the price breached the trend to enter an inverse parabola. BNB Coin is facing a strict resistance at $19 after it has marked a 30-day high at $18.9 and has been on a continual downswing thereafter.

The slight parabola that is visible on the 12-hourly chart shows that the trend is consolidating slightly above 38.20% Fib retracement level as it trades at $15.32 at the press time. Binance coin is failing to retain support from 50-day and 200-day MA after sliding from 50.0% Fib Retracement area around the price area of $16.8.

The YTD technical are drawing a bearish crossover as the MACD holds a bearish divergence due to a notable downtrend over the past four weeks now, as we are almost at the month-end. Also, the RSI of BNB is at 37.20 and is inclined to the selling zone.

BNB News

On the other hand, the technicals laid on a 3-hourly chart shows that BNB/USD is holding slight bullish crossover as the MACD crosses above signal line due to intraday recoveries and the RSI lies at 43.04 with no trading extremities. However, drawing an intersection between the two given time frames, we see that the Binance Coin is failing to retain support from 3-hourly 50-day and 200-day MA support at $15.75 and $16.49, respectively.

Mehak Punjabi

Mehak Punjabi is a post-graduate in MBA with a specialization in Finance and has joined CryptonewsZ with a skill-building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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