Binance Coin Price Prediction as German Car Manufacturer BMW Partners with BNB Chain – BNB to the Moon?
Binance Coin, the native token of the popular cryptocurrency exchange, has seen a downturn in price in recent weeks. However, it has recovered slightly, climbing 11% since December 17th. Currently trading at $244, the token may see further gains if it can break through the 50-day Exponential Moving Average at $245.8.
A green candle on the four-hour chart may indicate a potential 7.35% breakout from a triangle pattern.
Binance Coin Price Prepares for Breakout after BNB Chain Partners with BMW
BMW, one of the leading German car manufacturers, has partnered with BNB Chain and Coinweb to add blockchain into its daily operations. This collaboration will help BMW create a blockchain loyalty program.
The partnership has been split into two phases, with BMW committing to integrating decentralized tech into the company’s daily operations to eliminate the tedious paperwork. In the second phase, the car manufacturer will develop and operationalize a loyalty program in collaboration with Coinweb.
The loyalty program will tap Web3 solutions to incentivize BMW Group customers. Customers will be grouped in tiers, considering their account status. Loyalty rewards will be distributed based on customer actions over time.
BMW customers will use the rewards to pay for goods and services offered by the company and in a connected ecosystem likely to come in the future. The BNB Chain was tapped to settle all transactions.
Binance Coin Price Eyes 7.4% Short-term Bullish Move
The BNB price is approaching a break out from a symmetrical triangle pattern, which could indicate the beginning of a sustained uptrend. The recent partnership with BMW has been well received by investors, who are hopeful for a favorable long-term outlook for the token.
However, Binance Coin must uphold support provided by the lower triangle trend line to prevent a bearish fall to $225. It is worth mentioning that symmetrical triangles do not have bearish or bullish biases.
Therefore, bulls must push the price past the 50-day EMA at $252, in confluence with the triangle resistance. A spike in volume and a break above this hurdle will affirm BNB’s 7.4% move to $264, where the price would encounter the 200-day EMA (in purple). This precise breakout target equals the distance between the widest points of the triangle extrapolated above the breakout point, as shown.
The Relative Strength Index (RSI) in the same four-hour time frame reinforces the bulls’ growing presence in the market as it climbs above the midline. Traders may fire up their long orders after the RSI crosses above the signal line (in yellow) and BNB clears the resistance mentioned at the 50-day EMA.
Large-volume holders have, since mid-December, reactivated the buying spree to scoop up more BNB before the year ends. According to Santiment, whale addresses with 10,000 to 100,000 coins now hold 3.3% of Binance Coin’s total supply, up from 3.18% on December 13 and 3.14% on July 4.
Spikes in this on-chain metric show that investor sentiment is improving as market participants forecast an optimistic outlook for BNB in 2023.
Altcoins to Consider
With broader cryptocurrency markets having performed poorly in recent weeks, investors may be looking to diversify their holdings with the pre-sale tokens of promising, up-and-coming cryptocurrency projects.
FightOut (FGHT)
They say, “it takes a community to raise a child,” and FightOut believes it takes commitment and incentives to encourage a community to lead a healthy lifestyle. FightOut is approaching the fitness industry in a way not done before, at least not by existing Move-to-Earn (M2E) crypto platforms such as SweatCoin and STEPN.
The team behind FightOut is committed to changing the fitness industry one gym at a time with the help of an M2E fitness app. Users who join the platform will be rewarded for completing workouts and predetermined challenges.
FightOut aims to purchase a chain of gyms around the world for its members, as it plans to ease the masses into Web3 using the metaverse.
The FGHT presale is underway and is selling out fast. So far, $2.47 million has been raised and 1 FGHT costs 0.0166 USDT.
Dash 2 Trade (D2T) – Just 7 Days Remain
Those interested in investing in a promising crypto trading platform start-up should look no further than Dash 2 Trade. The up-and-coming analytics and social trading platform hopes to take the crypto trading space by storm with its host of unique features.
These include trading signals, social sentiment and on-chain indicators, a pre-sale token scoring system, a token listing alert system and a strategy back-testing tool. Dash 2 Trade’s ecosystem will be powered by the D2T token, which users will need to buy and hold in order to access the platform’s features.
Dash 2 Trade is currently conducting a token pre-sale at highly discounted rates and sales recently surpassed $11.5 million. The pre-sale dashboard is going to be released soon, with the development team currently running ahead of schedule. Tokens are currently selling for $0.0533 each and will be listed on multiple centralized exchanges in under one month.
C+Charge (CCHG)
Running on Binance Chain, C+Charge (CCHG) is a peer-to-peer payment system for electric vehicle (EV) charging stations. Also due to launch in the second quarter of next year, its aim is to widen access to carbon credits, with which it will reward users for charging their EVs at its terminals.
As a sign of how quickly it could grow, the platform has already signed a deal with Perfect Solutions Turkey, adding 20% of the EV chargers in Turkey to its network. 1 CCHG currently costs $0.013, and can be bought using either BNB or USDT.
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