Binance Coin (BNB) has been under pressure from the Securities and Exchange Commission (SEC), following analysis of the price of the original token platforms owned by Changpeng Zhao the. Meanwhile, price indicators crypto TCRV shows potential bullish.
Will Binance Coin Price Decline?
Since the SEC lawsuit against crypto exchange Binance on June 5, the BNB market cap has decreased by more than US$6 billion and is currently at US$40,559,689,476.
Despite the nearly 10 percent drop, technical analysis points to a weaker price outlook bullish in the short term.
The BNB/USD pair appears to be in position for a potential short term recovery as it is around levels critical support, and the daily relative strength index (RSI) have entered the region oversold under 30.
In such a scenario, BNB price analysis predicts it could jump 7 percent with a target of US$280. On the other hand, if the momentum bullish weakened, the token could decrease to US$240.
Independent market analyst TraderSZ thinks that the price of Binance Coin could even drop towards levels the lowest in 2022, at US$180, due to the ongoing battle between Binance and the SEC.
In a 7-day period, Binance Coin faced resistance at the upper limit of the Bollinger band at US$330.5 and the lower border of the Bollinger band at US$275.5.
Currently, Binance Coin is trading at US$260.33, with a price increase of 0.20 percent and a decrease of 15.38 percent in the last 7 days.
Tradecurve (TCRV) Show Bullish Price Indicator
In contrast to the BNB situation, there is significant bullish sentiment around the utility token Tradecurve (TCRV).
In the monthly chart, TCRV has shown significant strength, leading the market rally altcoins with a striking increase of 50 percent.
Moreover, analysts predict an upward trend in the token’s price in June.
One of the features that will drive TCRV’s price is its parent platform’s exposure to multiple asset markets such as forex, commodities, stocks and CFDs which users can trade using a single account. This is something that is not available on CEX like KuCoin and Huobi.
Therefore, the combined trading activity of various markets will increase trading volume platforms and TCRV prices.
Moreover, the forex market alone will reach a valuation of US$753.2 billion by 2022.
This makes Tradecurve a platforms interesting for the traders who wish to explore and capitalize on these various markets.
Currently, TCRV has a value of US$0.015 per token in stages presale third token. [ab]