BNB Soars to New Heights, Hitting Its “Moonshot” Price Target of $490

BNB, the native cryptocurrency of the Binance ecosystem, has soared to new heights, hitting its “moonshot” price target of $490, as predicted.

Binance Coin (BNB) price soared to hit the “moonshot” price target of $490, as predicted in a previous analysis. Despite the broader crypto market showing signs of weakness, BNB price managed to navigate through both bullish and bearish market sentiment.

The analysis and patient trading strategies, highlighted below, delivered substantial gains to savvy investors.

As reported, Chill Trader previously identified a shorting opportunity for BNB when the cryptocurrency was trading between $662 and $641. The analyst highlighted a series of take-profit targets, including an ambitious “moonshot” target of $490, while also setting a stop-loss at $718 to manage potential risks.

Interestingly, BNB price went on to hit the $490 target precisely, offering an optimal entry and exit point for traders who followed the analysis closely. This successful prediction reinforced the potential for significant returns when combining patience and sound trading strategies.

Throughout the week, BNB price carved a path to new highs. With recent moves, the token surged from $664 to $681 in a matter of hours. Volume was seen pulsating over $700 million, indicating fierce buying momentum.

The analyst’s initial call to short BNB was made based on a comprehensive evaluation of market indicators and price patterns, demonstrating a deep understanding of market dynamics. Additionally, the decision to set a distant “moonshot” target reflected a strong conviction in the analysis and the potential for substantial gains.

BNB Gains Come Amidst Binance Pay & xMoney Europe Expansion

In related development, Binance Pay, the payment subsidiary of the leading cryptocurrency exchange Binance, has announced a new collaboration with xMoney, a blockchain payment solution provider. The strategic partnership aims to enhance crypto payment accessibility for customers across the European market.

As per the official blog post, the collaboration with xMoney has enabled the payment platform’s merchant network to reach over 32,000 businesses located worldwide. This marks a significant milestone in the firm’s growth trajectory. The expansion comes at a time when the leading platform’s already achieved a notable 36% year-over-year increase in its development.