We use cookies to offer a better browsing experience, analyze site traffic, personalize content, and serve targeted advertisements. By clicking accept, you consent to our privacy policy & use of cookies. (Privacy Policy)

Binance Coin Price Prediction: What’s Next For BNB After CZ’s Exit

Binance coin (BNB) price has taken a nosedive this week after a surprise exit by the founder and CEO Chengpeng Zhao (aka CZ). As a part of the settlement with the US DOJ, the company’s 46-year-old founder has not pleaded guilty to the charges of violating US anti-money laundering laws but also agreed to step down from the leadership of the biggest crypto exchange.

Despite a 3.15% rebound on Wednesday, BNB crypto remains 3.15% down on the weekly timeframe. Yesterday’s panic caused a 10.9% plunge in the leading exchange coin which was gaining strength since its October lows.

As a result, the high timeframe outlook has flipped very bearish for BNB price. Therefore, for a better understanding, let’s analyze its chart on a weekly timeframe.

I have repeatedly pointed out the macro trading range of $184-$336 for BNB. After a rejection from the midpoint of this zone, Binance coin price prediction has taken a very bearish turn. This has put the price target of $184 within the bears’ reach.

BNB price
Binance Coin Price (BNB)