BNB Price Chart | Source: FXempire
In the near term, if bears can add to the sell-side pressure, prices can fall back to the $295 and then to the $265 mark. On the contrary, if prices gain upside momentum, a revisit to the higher $325 mark can be expected.
In the event of a recovery, the $325 mark will be an essential level to keep an eye on in the near term. If BNB’s price retests that level, it could suggest that bulls are accumulating on dips. Market accumulation could help BNB’s price break above the $325.
More often than not, Altcoins’ trajectory is dependent on their ecosystem-centric developments. Recently, BNB Chain unveiled a new technical roadmap with the aim of making the network faster and more decentralized by the end of 2022.
The announcement was made at the BNB Chain Revelation Summit, highlighting that the network will see increased decentralization with the adoption of BEP-131. Additionally, developers anticipate improved security and stability for the network as the number of validators on the BNB Smart Chain increase.
The document said,
“This proposal would increase the number of BSC Mainnet validators from 21 to 41, providing more decentralization and incentives for validators to constantly innovate their hardware and infrastructure.”
Furthermore, the BNB Beacon Chain will also make the Binance decentralized exchange (DEX) open-source by the second quarter of the year to improve transparency and multi-chain integration.
With the chain’s fundamentals getting more robust in the coming months, BNB’s price could witness growth.