BNB price forecast for December 31, 2022

warning: CoinMarketCap’s cryptocurrency community price estimate is based solely on the votes of its users. Estimates do not guarantee prices at the end of the month.

The cryptocurrency sector is finally recovering from a crisis triggered by the collapse of cryptocurrency trading platform FTX, as well as Binance Coin (BNB), the decentralized finance (DeFi) token backing the BNB Chain ecosystem, which posted gains on all its charts.

But such results did not inspire much confidence from the crypto community CoinMarketCapWhich estimated that BNB will trade at a price of 289.4 USD By the end of the year, according to data retrieved on November 23.

Should community estimates, which is the result 768 votes As of the time of publication, it has been proven correct, means that on December 31, 2022, BNB will change hands at a lower price of $6.2601 or -2.12% Compared to its current price of $295.66.

BNB social price estimate for December 31st. source: CoinMarketCap

Despite the lack of optimism in its future price, BNB Chain records high user activity, with 1.27 million daily active addresses making it the most active blockchain, followed by Polygon (MATIC) with 834,000 and Fantom (FTM) with 457,000 daily active addresses on November 23, Nansen data I showed.

BNB technical analysis

Meanwhile, BNB’s Technical Analysis (TA) indicators on one-week metrics are positive, with the summary stating ‘Buy’ at 12 vs. ‘Sell’ at 5 and ‘Neutral’ at 9. Analyze these indicators in more detail, as Oscillators are suggesting a “buy” at 3, while the moving averages (MA) are also in the “buy” area at 9.

BNB Technical Analysis Summary One Week Scale. source: TradingView

As it is, BNB is currently trading at $295.66, posting a solid daily gain of 12.62%, along with gains on both the weekly and monthly charts, growing by 9.16% on the former and 8.53% on the latter.

BNB price chart over 7 days. source: quinphone

Meanwhile, BNB has a market capitalization of $47.29 billion, making it the fourth largest digital asset by this index, according to CoinMarketCap Data retrieved by Coinphony on November 23.

warning: The content of this website should not be considered as investment advice. Speculative investments. When you invest, your capital is at risk.

BNB Price Prediction After December 31, 2022 appeared first on Coinphony.

Leave a Reply

Your email address will not be published. Required fields are marked *