This week, the price of Binance Coin experienced a significant surge, surpassing the $245 mark, fueled by the news of Wall Street giants showing interest in the crypto industry. Similarly, another new token, Tradecurve’s TCRV, has soared again by 20% after previously recording a 80% increase on the 30-day charts.
- Binance Coin (BNB) suffered a major price crash after the exchange and its founder were sued by the SEC.
- BNB has now bounced back but still remains at risk of further declines, but what could be the trigger?
- Defying the bearish trend, Tradecurve (TCRV) has experienced a 20% price surge and could increase further in the coming week.
Binance Coin (BNB) Price Analysis: What Could Trigger A Downward Trend?
This week, Binance Coin has emerged as one of the top gainers among the top 10 cryptocurrencies. Despite a turbulent start to the month, on-chain data reveals a renewed deployment of transactions on the BNB chain by crypto stakeholders. Santiment reports a significant spike in BNB’s Daily Active user count, reaching a peak of 6,179 on June 17th, just two days after the filing of Blackrock’s ETF.
This surge in user activity, coupled with a breakthrough of the $270 resistance level, could fuel a bullish rally pushing towards the $300 zone. However, it is important to note that profit-taking might occur at that point. If the support level at $230 is breached, Binance Coin could experience a decline toward the 20% loss range, reaching around $203. It is worth noting that some dissatisfied holders might choose to sell at that point, inadvertently triggering a rebound in the price.
As of this writing, Binance Coin is trading at $244.43, with a 3.90% decrease in the last 24 hours. The 50-day Simple Moving Average (SMA) stands at $289.19, while the 200-day SMA is at $297.51. The 14-day Relative Strength Index (RSI) currently sits at 33.20, suggesting that the BNB market is in a neutral position.
Tradecurve Surges 20%
Within a span of just one week, Tradecurve’s TCRV token has achieved a major milestone by surpassing its previous all-time high (ATH) of $0.018. The new ATH of Tradecurve happened after an impressive 20% price surge. Given the current bullish sentiment of the cryptocurrency market, market analysts have forecasted more price surges for TCRV, with the next target at $0.025 for the token.
Why analysts are more bullish about Tradecurve than most of the crypto market because of its unique trading platform. Unlike exchanges like KuCoin and Binance, Tradecurve places a strong emphasis on privacy and decentralization, allowing investors to control their assets and private keys. Additionally, Tradecurve does away with KYC requirements. This approach enables investors from around the world to engage in trading using only an email address and a crypto wallet.
In addition to crypto trading on the platform, Tradecurve provides users with access to other markets, such as commodities, stocks, and forex. With the current TCRV price standing at $0.018, the fourth presale stage presents an enticing opportunity for investors seeking asset growth. Furthermore, market experts anticipate bullish price movements predicting up to a 40% price rise for TCRV in the coming weeks as it enters the fifth stage of its presale.
Visit the links below to get more information about Tradecurve and the TCRV token:
Click Here To Buy TCRV Presale Tokens
