CRYPTO NEWS

Binance Coin Price Prediction for Today, June 18: BNB Price Hits $196 Low

The Binance Coin price prediction is facing a decline in the value of 5.99% after being rejected at a $218.8 resistance level.

Binance Coin Prediction Statistics Data:

  • Binance Coin price now – $202
  • Binance Coin market cap – $33.1 billion
  • Binance Coin circulating supply – 163.2 million
  • Binance Coin total supply – 163.2 million
  • Binance Coin Coinmarketcap ranking – #5

BNB/USD Market

Key Levels:

Resistance levels: $290, $310, $320

Support levels: $130, $120, $110

At the time of writing, BNB/USD is heading towards the south as the price failed to break above the resistance level of $218. Looking at the daily chart, the Binance Coin shows that the price is still moving within the channel, though the price may need to retreat a little bit before heading to the upside.

Binance Coin Price Prediction: Binance Coin Price May Consolidate at $200

The Binance Coin price remains below the 9-day and 21-day moving averages, therefore, should buyers manage to power the market; they may likely find resistance levels of $290, $310, and $320. Nevertheless, bulls need to hold the $200 level to begin an upward movement.

Moreover, if the market experience more drops, it could hit the nearest support at $180 and a further drop below the lower boundary of the channel could pull the market to the support levels of $130, $120, and $110 respectively. Therefore, the technical indicator Relative Strength Index (14) is within the oversold region, indicating more bearish signals in the nearest term.

BNB/BTC Market: Price May Head to the Upside

Looking at the daily chart, BNB/BTC is moving to the upside as the price moves to cross above the channel. Moreover, Binance Coin bears may not be able to drag the price down as the 9-day moving average is crossing above the 21-day moving average, suggesting a bullish movement. On the contrary, should the price break below the moving averages, the coin may hit the support level of 950 SAT and below.

BNBBTC – Daily Chart

Looking at the technical indicator, the Relative Strength Index (14) is likely to cross above the 60-level. Therefore, if the bulls put more pressure, the Binance Coin price may cross above the upper boundary of the channel to reach the resistance level of 1150 SAT and above.

eToro – Our Recommended Crypto Wallet

Our Rating

eToro exchange
  • Exchange Wallet for 120+ Cryptocurrencies, Trade In-Wallet
  • Automatic Staking of ETH, ADA or TRX in your Wallet
  • Regulated by FCA, ASIC and CySEC – Millions of Users
  • Unlosable Private Key – Secure eToro Recovery Service

eToro exchange

68% of retail investor accounts lose money when trading CFDs with this provider.

Read more:

Lightning Labs Introduces Taproot, Musig2 in Beta Version of Lightning Network Daemon

Lightning Labs has announced the release of the beta version of the Lightning Network Daemon (lnd). The firm has revealed incorporating several improvements in the new – v0.15-beta. The main idea is to offer developers and users access to the “latest and greatest” Bitcoin protocol upgrades that include Taproot and Musig2. Taproot and Experimental Musig2::Listen

Lightning Labs has announced the release of the beta version of the Lightning Network Daemon (lnd). The firm has revealed incorporating several improvements in the new – v0.15-beta. The main idea is to offer developers and users access to the “latest and greatest” Bitcoin protocol upgrades that include Taproot and Musig2.

Taproot and Experimental Musig2

According to the official blog post, Lightning Labs’ product growth lead Michael Levin announced that more than 50 contributors participated in launching the firm’s first release in 2022.

“Since 0.14, we’ve made immense progress to better meet the needs of our developer community. We’re excited to deliver this technology to our builder community around the world to see what amazing use cases they can bring to users.”

Its latest release will give complete Taproot support for the internal lnd wallet, which will be able to generate P2TR addresses for receiving and sending via bech32m. Support for an experimental Musig2 API compliant with the latest BIP draft has also been added in v0.15-beta.

Taproot was activated in November 2021 after receiving 90% consensus. Prior to the upgrade, Bitcoin used the Elliptic Curve Digital Signature Algorithm (ECDSA) to generate keys and verify transactions. The Taproot soft fork aimed to make Bitcoin more private, secure, and scalable.

It brought Schnorr Signatures to reduce network burdens and made it possible to conduct multi-signature multi-input transactions (UTXI) a lot easier, faster, and cheaper.

Other Key Improvements

Meanwhile, the new release comes with a 95% reduction in the database size by removing redundant data from the revocation log bucket. In contrast to its previous versions, the v0.15-beta is also expected to improve node performance.

Furthermore, Lightning Labs has also incorporated greater control for its users over pathfinding preferences. This addition will essentially give users choice with regard to different payments, meaning – they can select different options based on their needs over time and cost tradeoffs. The company has come up with advanced developer tooling for liquidity service providers.

Binance Coin Price Prediction for Today, June 18: BNB Price Hits $196 Low

Shopping cart
There are no products in the cart!
Continue shopping
0