VanEck Files for BNB ETF—Is a Binance Coin Price Surge Imminent?
Wall Street’s latest crypto gambit drops: VanEck just submitted an S-1 for a BNB ETF, betting regulators will ignore Binance’s regulatory dumpster fire. The move could send Binance Coin toward new all-time highs—if the SEC doesn’t torpedo it first.
Why this matters: ETF approvals have become crypto’s golden ticket, with Bitcoin and Ether products sucking billions into the market. Now VanEck’s pushing to extend that gravy train to BNB, despite its centralization baggage.
The cynical take: Traditional finance finally figured out how to monetize the ’number go up’ crowd without touching the underlying tech. Genius—or just late-stage capitalism doing its thing?
BNB Price Outlook
The filing has stirred speculation around the token’s price growth and potential adoption in traditional financial systems. At the time of writing, BNB is trading around $593, with no loss or gain in the past day.
It is interesting to note that BNB has been trading within a symmetrical triangle pattern on the daily chart since February. With the price nearing the triangle’s apex, analysts believe that a breakout appears imminent.
If bulls push the price above the resistance at $615, the next major target lies around $640–$650. However, a breakdown below the $580 support could lead BNB to the lower trendline NEAR $560.
BNB price chart | Source: Trading View
Meanwhile, on the daily BNB price chart, the signal line is slightly above the MACD line, suggesting minor bearish pressure. The histogram shows minimal divergence, pointing to a potential momentum shift.
The RSI sits around 52, indicating neutral momentum. This leaves room for price action to swing in either direction based on market catalysts.
BNB price chart with Bollinger Bands | Source: Trading View
On the other hand, Bollinger Bands are narrowing with the price currently hugging the middle band (20-day SMA). This hints at an upcoming major move. A sustainable break above the upper band near $614 could result in bullish momentum.
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