Crypto Capo, which we know with a bear stance in the crypto money market, is back to give news of the collapse. The analyst now expects a crash in BNB, the native token of the giant cryptocurrency exchange Binance. Accordingly, he suggests that the altcoin price will plunge to the bottom.
Heavy salvos from the veteran analyst to Binance and the crash forecast for BNB!
Crypto Capo gained a lot of popularity in 2022 after successfully predicting the peak of the crypto market in early 2023 due to impending interest rate hikes. This prediction alone earned him great respect in the industry. He helped many of his followers protect their wealth by selling Bitcoin at $50,000. Check out this article of Kriptokoin.com for the analyst’s accurate predictions. It has come under fire lately as it has been trending bearish towards the bottom of the bear market. He has since taken a break from his comments on crypto markets. However, it has made a comeback in the last few days, continuing its bear stance. Accordingly, Crypto Capo claims that Binance’s native token BNB will collapse.
Capo claims that Binance officials are trying to raise the price of BNB by issuing fake stablecoins. However, he says they know they won’t be able to do it for much longer. This is why he suggests that BNB will eventually explode. “I don’t want to add more to my short positions. However, I have already made too many shorts. I prefer to keep my current position. My current average entry point for BNB is $301,” he says.
Crypto Capo predicts that BNB will drop to $125 first as a price target. However, he doesn’t expect it to stop here. Because, he claims that BNB will continue to decline and fall as low as $40.
BNB price prediction. Source: Crypto CapoAltcoin price is in the middle of bullish formation
Technical analyst Brian Bollinger talks about bullish formation for BNB. The altcoin price on the four-time frame charts is bullish under the influence of an ascending channel pattern. For about two months, BNB price has been swinging between two parallel walking trendlines that act as dynamic resistance and support. BNB price near the lower trendline is showing a sign of a bullish reversal and the potential for a sharp rally.
Binance price daily chartAmid the recent uncertainty in the crypto market, BNB price showed limited sideways movement in the $245 to $234 range. This two-week consolidation led to the formation of a bullish reversal pattern called an inverted head and shoulders. With an intraday play of 1.62%, altcoin price gave a bullish breakout from the neckline resistance of the pattern. According to press time, Binance coin is trading at $244. Thus, it tries to stay above the breached trendline. If buyers manage to hold this inverted support, the altcoin could extend the recovery by 10%. Thus, it can reach the general trend line of the channel pattern. The altcoin may remain in a sideways or slightly uptrend until the two trendlines remain intact.
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