Altcoins are rallying, but here’s why BNB is being left behind
  • BNB price rose only 1.5% in the past 24 hours.
  • Bearish sentiment towards the coin prevailed in the market.

The cryptocurrency market has become bullish, with some cryptocurrencies soaring in value. binance coin [BNB] Investors may be at risk.

A recent analysis states that BNB is one of the cryptocurrencies with the lowest growth potential as it has already appreciated enough over the years. To see how feasible it is, AMBCrypto checked the indicators of BNB.

Will the BNB bull market end?

Bitcoin value [BTC]The king of cryptocurrencies soared above $70,000, contributing the most to turning the entire market bullish.

Thanks to that, the value of BNB has also gained upward momentum, with the price increasing by more than 17% in the past 7 days. However, the growth momentum has slowed recently.

Street coin market cap, BNB’s value has only increased by more than 1.5% in the past 24 hours. At the time of writing, the coin was trading at $594.95 and had a market cap of over $88.9 billion.

Possible reasons behind this outage can be found within the Wolf of Altcoins. Tweet. A popular crypto analyst recently posted a tweet mentioning cryptocurrencies that may be too late to buy, and BNB was one of them.

AMBCrypto therefore looked at Santiment’s data to see if the BNB bull run is indeed short-lived.

This can be expected from BNB

Our analysis reveals that BNB’s social volume has remained high throughout the past week. However, the sentiment surrounding the coin has turned bearish, as evidenced by the drop in weighted sentiment.

However, the coin’s derivatives indicators looked a bit bullish. For example, BNB’s funding rate has increased, indicating high demand in the derivatives market.

Additionally, after a slight decline, the coin’s open interest also increased, indicating that the upward price trend is likely to continue.

The bearish mood surrounding BNB is growing

Source: Santiment

To better understand whether the coin’s uptrend will end, AMBCrypto analyzed the daily chart.


read Binance coin [BNB] price prediction 2024-25


According to our analysis, BNB Money Flow Index (MFI) and Chaikin Money Flow (CMF) both recorded sideways movements over the past few days. So investors may see a few slow days.

Nevertheless, the MACD looked favorable for buyers as it showed a bullish crossover potential.

Source: TradingView

Related Article

0 Comments

Leave a Comment