BNB Price Prediction: Hidden Buy Signal Emerges as BNB Surges Toward $1,000 – On-Chain Data Suggests a Big Bounce Is Coming
A robust on-chain sign simply flashed for BNB, sparking renewed confidence in a bullish BNB price prediction as the token eyes a return to $1,000.
The Network Value to Transactions (NVT) ratio has plunged to a 27-month low, suggesting BNB is presently undervalued relative to its rising community exercise.
In the previous, this has been a contrarian sign. This implies that, when the metric drops, the worth of BNB begins to rise.
The final time the NVT metric hit a low of round 90, BNB began its ascent from $650 to its all-time high of $1,300.
BNB Price Prediction: Early Bullish Signals Pop Up within the Daily Chart
The every day chart reveals that an ascending worth channel has shaped after BNB hit a key help at $920.
The worth has progressively recovered, however skilled some promoting strain proper after it hit $1,000. This psychological threshold could be the important thing resistance to look at within the subsequent few days.
A transfer above this mark might set off a far more explosive uptick within the close to time period.
Although it’s nonetheless a bit early to inform if this would be the starting of the following leg up for BNB.
If the worth rises above the 200-day EMA, it might retest its all-time high quickly, as that is a important degree from a technical standpoint.
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