When compared to Bitcoin, BNB is now trading well below its all-time high, but this might soon change.
The latest spotlight on BNB stems from the September 27 release of Binance founder and former CEO Changpeng “CZ” Zhao from a four-month prison sentence for violating anti-money laundering laws.
On the other hand, some think that the publication of CZ might cause BNB to rise.
B&B ticks downward to $575.86 some anticipate that the performance will be similar to the altcoin market as a whole. BNB is comparable to Bitcoin BTC.ticks downward to $63,835.19
has been trapped within a wide range for a number of months, suggesting that the bulls and bears are unsure of each other.
The fact that investors are optimistic about the long-term prospects of both Bitcoin and BNB, however, is encouraging. While some analysts predict a new high for Bitcoin in 2025, others believe it will reach a new all-time high in the fourth quarter. A few analysts believe that BNB will surge to a maximum of $1,000.
The key query is: Which of BNB and Bitcoin has the most chance of performing better? Will BNB, which is currently much below its peak in relation to Bitcoin, recover? To find out, let’s examine the BNB/BTC charts.
Weekly price analysis of BNB/BTC
The pair is attempting to reverse its downward trend, but selling is preventing a recovery close below the 0.010 BTC 38.2% Fibonacci retracement line. This implies that traders are selling during rallies and that the mood is still negative.
The BNB/BTC pair may approach the 50-week simple moving average (0.008 BTC) if the price declines further and breaks below the 20-week simple moving average (0.009 BTC). Buyers are probably drawn to this level, therefore the pair may remain trapped between the 50-week SMA and 0.010 BTC for long time.
On the other hand, a price bounce off the 20-week EMA will indicate that bulls are purchasing on down. At 0.010 BTC, the bulls will then try to cross the overhead barrier. If they are successful, the pair may proceed to 0.012 BTC, the 50% Fibonacci retracement level, and subsequently 0.014 BTC, the 61.8% retracement level. In order to imply that the downward trend has finished, buyers will need to get beyond this obstacle.
Daily price analysis of BNB/BTC
For several months, the pair has been trading in a broad range between 0.008 and 0.010 bitcoin. A balance between supply and demand is shown by the crisscrossing of both moving averages and the relative strength index (RSI), which is just below the midpoint.
The pair may drop to 0.0086 BTC if the price breaks below the 50-day SMA, which is currently at 0.009 BTC. The bulls need to hold this level because a decline below it might send the pair below 0.008 BTC, the bottom of the range.
The initial resistance is located at 0.0097 BTC on the upside. The pair may retest the critical level of 0.010 BTC if this level is cleared. A significant reverse from 0.010 BTC indicates that the range-bound activity might hold, but a breakout might initiate a fresh upswing. The pair’s target objective is set at 0.012 BTC due to the break in the range.