Binance Coin Hits Critical Level; Analysts Give November Prediction While Tron and DTX Exchange Gains Momentum
Binance Coin (BNB) is in a critical position as the crypto market prepares for the month of November. The token, which is associated with the Binance ecosystem, could either experience massive volatility or price growth.
Meanwhile, Tron (TRX) and DTX Exchange (DTX) are showing positive momentum as a large number of holders are in profits. Data from IntoTheBlock showed 99.8% of Tron holders in profits on Friday. Also, those who hold the DTX coin have seen 300% returns on their investments.
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Analyst Forecast Binance Coin (BNB) To Hit $850
Binance Coin (BNB) is starting the week on a bearish note. With losses on the weekly and monthly charts on CoinMarketCap, the Binance Coin crypto has shown an underwhelming performance. The only bright side for investors is that the altcoin price is trading above the 200-SMA ($570.80) and 50-SMA ($571.04).
We might see some uptrends in the first week of November as long as bulls hold the Binance Coin BNB above these levels. On the flip side, any bearish movement below these supports could increase the cryptocurrency’s risk of falling below $500.
CoinIdeasMaster forecasts that the Binance Coin price could pump to $805.4 in the coming weeks. But first, the cryptocurrency will have to surpass the resistance around the $634-$658 range. Another expert, CryptoAM17, said that Binance Coin (BNB) might reach $1000 if it crosses the $700 mark.
87% of Tron (TRX) Holders In Profits As Price Rises
On Friday, data from IntoTheBlock showed huge positive sentiment for the Tron coin. Over 99.8% of addresses were in profit, signifying large growth over the past year. However, the metric has dropped to 87.8% after the cryptocurrency suffered some price retracement. Nevertheless, Tron crypto is showing profits of 4.7% and 5.3% on the weekly and monthly timeframes on CoinMarketCap, respectively.
Tron (TRON) has been exchanging hands between $0.1525 and $0.1675 in the past 30 days. Top experts forecast the Tron price might rally to $0.200 in the month of November. The last time Tron (TRX) reached this level was in 2018. On the downside, a negative price movement could lead to a retest of the support at the 50-SMA ($0.156016).
DTX Exchange (DTX) Hits New Milestone, Could Rise 500% in November
DTX Exchange (DTX) is currently among the new ICOs that have produced positive results in the past few months. DTX Exchange has been impressive in its ongoing crypto ICO, hitting the $6 million milestone mark. Also, the DTX coin has soared by 300% to its current price of $0.08. Experts predict its value could rise by 500% in November.
DTX wants to build a hybrid exchange where the best features of CEX and DEX will be integrated. This approach gives the user the efficiency of a CEX and the security of a DEX. DTX Exchange provides access to more than 120,000 trading instruments, including bonds, stock indices, cryptocurrencies, and commodities, thereby giving the trader a one-stop shop. This approach allows them to have a diversified portfolio and spread their wealth across many assets.
Another of the platform’s main strengths is the emphasis on privacy: it is possible to trade without verification, that is, without providing personal documents, which allows users to remain completely anonymous. This anonymity is especially useful for those who care about their privacy and want to engage in trading across a number of financial instruments while keeping their identity private.
Final Thoughts
Binance Coin (BNB) could trade at $805 in the next few weeks, according to analysts. Also, the top altcoins, Tron (TRX) and DTX Exchange (DTX) are expected to gain more momentum too. While Tron could soar to the $0.2 level, DTX might see a gain of up to 500%, making it the best crypto to buy for November.
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