BinaryX (BNX) Price Prediction 2023 – Will BNX Hit $200 Soon?

• Bullish BNX price prediction is $176.1 to $273.7.
• The BNX price will also reach $200 soon.
• BNX bearish market price prediction for 2023 is $57.6.

In BinaryX (BNX) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and other information about BNX to analyze the future movement of the cryptocurrency. 

BinaryX (BNX) Current Market Status

What is BinaryX (BNX)?

BinaryX is a Decentralized Derivatives Contract Built on the Binance Smart Chain And Ethereum. BinaryX, which uses an improved Automated Market Maker (AMM) model, allows users to trade binary options conveniently.

BNX is a governance token of the BinaryX platform. The token holders of BNX can contribute to community governance. It implies that they can vote on crucial decisions concerning the game. A large portion of the BNX tokens that users pay in the game is employed to determine event rewards, which is finally returned to all the users.

BinaryX (BNX) Price Prediction 2023

BinaryX holds the 133rd position on CoinGecko right now. BNX price prediction 2022 is explained below with a daily time frame.

The descending triangle is most commonly seen during downtrends and is often interpreted as a bearish signal. The ascending triangle pattern is reversed in the descending triangle pattern. As the price continues to make lower highs, descending triangles indicate to investors and traders that sellers are more aggressive than buyers. When the price breaks out of the triangle in the direction of the overall trend, the pattern is complete.

Contrary to popular belief, a descending triangle can be bullish or bearish. A regular descending triangle pattern is traditionally regarded as a bearish chart pattern. A descending triangle pattern, on the other hand, can be bullish.

Currently, BinaryX (BNX) is at $60.99. If the pattern continues, the price of BNX might reach the resistance level of $171.7, $186, & $223.7. If the trend reverses, then the price of BNX may fall to $60.2.

BinaryX (BNX) Support and Resistance Levels

The chart below shows the support and resistance levels of BinaryX (BNX).

From the above daily time frame, we can clearly interpret the following as the resistance and support levels of BinaryX (BNX).

The charts show that BinaryX has performed a bullish trend over the past month. If this trend continues, BNX might run along with the bulls overtaking its resistance level at $273.7.

Accordingly, if the investors turn against the crypto, the price of the BinaryX might plummet to almost $57.6, a bearish signal.

BinaryX (BNX) Price Prediction 2023 — RVOL, MA, and RSI

The Relative Volume (RVOL) of BinaryX is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of BNX lies below the cutoff line, indicating weak participants in the current trend.

Moreover, the Moving Average (MA) of BinaryX is shown in the above chart. Notably, the BNX price lies above 50 MA (short-term), so it is completely in a upward trend. Currently, BNX is in a bullish state. There is a possibility of a reversal trend of BNX at any time.

Meanwhile, the relative strength index (RSI) of the BinaryX is at a level of 76.30. This means that BinaryX is an overbought state. However, this gives confidence to the traders to trade without any fear.

BinaryX (BNX) Price Prediction 2023 — ADX, RVI

Let us now look at the Average Directional Index (ADX) of BinaryX (BNX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

The above chart represents the ADX of BinaryX . Currently, BNX lies in the range of 67.7, so it indicates a very strong trend. 

From the above chart, the Relative Volatility Index (RVI) of BinaryX (BNX). RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of BNX lies just below 50, indicating lower volatility. In fact, BNX’s RSI is at 76.30, thus confirming a potential sell signal.

Comparison of BNX with BTC, ETH

The below chart shows the price comparison between Bitcoin, Ethereum, and BinaryX (BNX).

From the above chart, we can interpret ETH, BTC, and BNX are moving in a similar trend but with slight differences. This indicates that when the price of BTC increases or decreases, the price of ETH and BNX also increase or decrease respectively.

BinaryX (BNX) Price Prediction 2024-2030

Numerous factors are taken into account when forecasting prices including volume changes, price variations, market cycles, and similar coins. Let’s predict the price of BinaryX (BNX) between 2024 and 2030.

BinaryX (BNX) Price Prediction 2024

If the declining price action completely slows down in momentum and the trend reverses,  BinaryX (BNX) might probably attain $308 by 202.

BinaryX (BNX) Price Prediction 2025

With several upgrades in the network, BinaryX (BNX) might enter a bullish trajectory. If the coin grabs the attention of major investors, BNX might rally to hit $315 by 2025. 

BinaryX (BNX) Price Prediction 2026

If BinaryX (BNX) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 3 years, BNX would rally to hit $327.  

BinaryX (BNX) Price Prediction 2027

If BinaryX (BNX) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, BNX would rally to hit $340. 

BinaryX (BNX) Price Prediction 2028

If BinaryX (BNX) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, BNX would rally to hit $349. 

BinaryX (BNX) Price Prediction 2029

If BinaryX (BNX) holds up a strong stance as a better investment option for the next 6 years, it might witness significant price rallies. Thus, by 2029, BNX would hit $355.

BinaryX (BNX) Price Prediction 2030

If investors flock in and continue to place their bets on BinaryX (BNX), it would witness major spikes. BNX might hit $363 by 2030.

BinaryX (BNX) Price Prediction 2030

With greater advancements in the BinaryX ecosystem, the crypto community might continue to invest in BinaryX (BNX) for the next 8 years and drive significant price rallies for the token. Hence, BinaryX (BNX) might hit $370 by 2030.

Conclusion

With continuous improvements in the BinaryX, we can say that 2023 is a good year for BNX. For this reason, the bullish price prediction of BinaryX (BNX) in 2023 is $273.7. On the other hand, the bearish price prediction of BinaryX (BNX) for 2023 is $57.6.

Furthermore, with the advancements and upgrades in the BinaryX  ecosystem, the performance of BinaryX (BNX) might hit $200 gaining investors’ attention. It would also rise to reach above its all-time high (ATH) of $225.40 in the near future.

FAQ

1. What is BinaryX (BNX)?

 BinaryX (BNX) is the governance token of the BinaryX, a decentralized video streaming platform. BNX was launched as an ERC-20 token in 2018.

2. Where can you purchase BinaryX (BNX)?

BinaryX (BNX) has been listed on many crypto exchanges which include Binance, FMFW.io, ZB.COM, HitBTC, Crypto.com, KuCoin, Bitrue, DigiFinex, Huobi global, and Gate.io.

3. Will BinaryX (BNX) reach a new ATH soon?

With the ongoing developments and upgrades within the BinaryX, BinaryX (BNX) has a high possibility of reaching its ATH soon.

4. What is the current all-time high (ATH) of BinaryX (BNX)?

On November 4, 2021, BinaryX (BNX) reached its new all-time high (ATH) of $225.40.

5. Is BinaryX (BNX) a good investment in 2023?

BinaryX (BNX) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of BinaryX in the past few months, BNX is considered a good investment in 2023.

6. Can BinaryX (BNX) reach $200?

BinaryX (BNX) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then BinaryX (BNX) will hit $200 soon.

7. What will be BinaryX (BNX) price by 2024?

BinaryX (BNX) price is expected to reach $308 by 2024.

8. What will be BinaryX (BNX) price by 2025?

BinaryX (BNX) price is expected to reach $315 by 2025.

9. What will be BinaryX (BNX) price by 2026?

BinaryX (BNX) price is expected to reach $327 by 2026.

10. What will be BinaryX (BNX) price by 2027?

BinaryX (BNX) price is expected to reach $340 by 2027.

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Disclaimer: The opinion expressed in this chart is solely the author’s. It does not interpret as investment advice. TheNewsCrypto team encourages all to do their own research before investing.