Analysts are divided on the future price direction of Binance Coin (BNB), with some predicting a potential rise above $300 and others foreseeing a drop below $200. The differing perspectives add complexity to the market outlook for BNB.
Crypto analyst Ali Martinez has indicated a possible breakout from a Head and Shoulders pattern on the BNB price chart, suggesting that a sustained close above $261 could catalyze a rise towards $310. BNB’s recent 2.9% gain in 24 hours and a 12% increase over the last fourteen days appear to support Martinez’s breakout hypothesis.
Martinez’s analysis, based on the daily chart, identifies $257 as a critical breakout point that could signal a potential trend change. If the upward trend continues, BNB could see a significant 19.8% gain in a short period, potentially pushing the price to $310. However, this forecast still falls short of BNB’s annual high of $350 reached in April.
Contrary to Martinez’s bullish outlook, crypto analyst and YouTuber Daan de Rover highlights a bearish structure on BNB’s weekly chart. De Rover points to a “green box” on the chart as a critical support level, suggesting that its loss could trigger a sharp decline below the $200 mark.
Despite a slight 1.56% decrease in BNB’s circulating market value to $39.83 billion, the token’s fully diluted market value remains stable. BNB’s annual calculated revenue has seen a 30.37% increase to $16.46 million, with a 21.33% increase in 30-day revenue to $1.35 million. The BNB Chain continues to show positive signs, with a 20.92% increase in fees collected over 30 days, reaching $14.22 million. However, the future trajectory for BNB’s price and underlying blockchain remains uncertain, with potential news about Binance and BNB likely to impact plans and directions unpredictably.