CandleFocus

BNB price ignores the crypto crash: could it surge 70%?

Binance Coin (BNB) has been performing well despite the current crypto crash, trading just 12% below its all-time high. Its resilience is attributed to its lower correlation with Bitcoin and other cryptocurrencies. BNB's price is also influenced by its token burns, both real-time and quarterly burns, which reduce the supply of coins in circulation. The Binance Smart Chain (BSC) ecosystem has been thriving, with its total value locked (TVL) growing by 3% in the last 30 days. Technical indicators suggest further upside potential for BNB, including bullish momentum and the formation of a cup and handle chart pattern, potentially leading to a price increase of over 70% in the long term.

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