Crypto analyst John Isige predicts a bullish move to $380 for Binance Coin (BNB). The price of Chiliz has increased by 15% as the 2022 FIFA World Cup approaches. What are the expectations now? Analyst Anton Kolhanov is investigating whether the leading altcoin Ethereum can move towards the $1,789 level. We have compiled analysts’ analysis of BNB, CHZ and ETH for our readers.
“Binance Coin, $380 passenger”
Binance exchange has announced the launch of Hashflow, its 31st Project on Binance Launchpool. Hashflow (HFT) is a DEX that connects traders with professional market watchers. BNB price rose 7.8% on the day after the Hashflow news. This sudden move in altcoin price reflects an increase in investor risk appetite. Demand for BNB will increase as Hashflow appeals to investors in the next 30 days.
Santiment’s Distribution of Supply metric shows that large volume investors are supporting BNB. This may be due to the surge in demand fueling BNB’s rally. Holders of 10,000 to 100,000 BNB have now reached 188 after gradually growing from 181 on September 21.
BNB Supply DistributionAlthough last week’s forecasts seem rather bearish, as you can follow on Kriptokoin.com, BNB suddenly started to rise. The $250 buyer congestion allowed the bulls to regain control. As the buying pressure behind BNB grew aggressively, its price had no choice but to destroy the resistance at $300.
BNB is trading at $332 after shrugging at $335. Looking at the DMI (Directional Movement Index), the technical outlook remains positive. If the gap between -DI and +DI continues to widen, the buyers will be at the beginning of the uptrend.
BNB daily chartTraders scanning for more long positions should wait for a confirmed break of the seller congestion at $340. BNB’s uptrend will be secure if the 100-day SMA (simple Moving Average) (blue) rises above the 200-day SMA (purple). BNB is likely to hold support above $330 as it awaits the second breakout phase at $380.
CHZ leads top 100 cryptocurrencies in earnings
Chiliz (CHZ) is a tokenized voice platform that empowers sports fans and helps them manage their favorite sports, teams and esports organizations. This makes players an influencer of a competitive presence. The FIFA World Cup 2022 is scheduled to start on 20 November. For this reason, sports clubs and fans increased their activities 21 days before the event.
Analysts expect FAN tokens to outperform meme coins as the 2022 FIFA World Cup approaches. According to crypto analyst Akash Girimath, once Bitcoin is grounded, it can provide traders with an opportunity to collect altcoins like Chiliz (CHZ) and FAN tokens.
Weekly and monthly forecast for leading altcoin
Weekly bullish scenario
As soon as the market breaks above the $1,604 resistance level, an uptrend will begin. It will push it to the $1,789 resistance level.
Weekly bearish scenario
A continuation of the downtrend is possible as the market trades below the $1,604 resistance level. Accordingly, it will drop to the $1,479 support level. If it continues to decline below the $1,424 level, the market is likely to reach the $1,190 support level.
Monthly bullish scenario
With the market trading above the $1,424 support level, a continuation of the uptrend is possible. Accordingly, it will reach the $1,789 and then $2,030 resistance levels.
Monthly bearish scenario
As soon as the market breaks below the $1,424 support level, a downtrend will begin. Thus, the altcoin will drop to the $1,190 and $881.56 support levels.
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