Binance Coin (BNB) Uptrend Is Solid, Prices May Rally Ahead of WINk IEO

Dalmas Ngetich

1 year ago

2 mins read

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Binance Coin is down 2.1 percent in 24 hours
WINk, previous TRONbet, will be crowdfunding from the Binance Launchpad

The integration of the Kyber Network liquidity protocol with the Trust wallet is a bullish signal for investors. Furthermore, the crowdfunding of WINk from the Binance Launchpad will draw demand for BNB. At the time of writing, the coin is stable but down 2.1 percent in 24 hours

Binance Coin Price Analysis

Fundamentals

Months after acquiring the non-custodial Trust Wallet, Binance, the world’s largest exchange by adjusted trading volumes, is now integrating it with the Kyber Network Protocol. The wallet, which is completely open-source and decentralized, initially offered native support for Ethereum (ETH) and related ERC-20 compliant tokens.

However, upon acquisition, Binance extended the number of supported cryptocurrencies. The exchange further plans to list tokens with proof-of-stake consensus algorithm. That’s on top of introducing additional features as staking and support of off-chain payment options as the Lightning Network.

Presently, the Trust wallet is default to the Binance DEX. There are several advantages of integrating the Kyber Network protocol, a multi-DEX platform allowing for cross token trading. First, not only will it ease trading, but there will be additional liquidity. Secondly, through the Trust wallet, users can access dApps from the wallet’s desktop or mobile version.

Meanwhile, WINk, previously known as TRONbet and a beneficiary of the Tron Arcade fund, will crowdfund at the Binance Launchpad.

Candlestick Arrangement

Perched at seventh, BNB, is steady, soaking in sell pressure. Nonetheless, the uptrend is firm. Although there is a tinge of weakness, BNB buyers have a chance.

From previous BNB/USD trade plans, there is opportunity for bulls as long as prices are firm above the $25-$30 support zone. Already, the double bar bullish reversal pattern of July 16 and 17 is hinting of demand in lower time frames.

However, with caps at the flexible resistance line, the middle Bollinger Band, there is apparent resistance for upsides. In light of the general tepidity of price action, risk-averse traders can adopt a neutral stand until after there is a strong close above June 2019 high of $43.

In the meantime, aggressive traders can buy the dips with a safety net just below $25. The first target will be $43. If the underlying momentum is firm, and there is a definite break past $43, odds are BNB will soar to $70 in a bull trend continuation phase.

Technical Indicators

As a result, the July 18 bull bar is leading this trade plan. For trend continuation, the breaching bar, lifting prices above $43 ought to be with high trading volumes exceeding 6 million of July 18. Conversely, steep losses below $25 nullifying this trade plan must be with high participation with the signaling bar propelled with high trading volumes surpassing 6 million.

Chart courtesy of Trading View. Image Courtesy of Shutterstock

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.