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Binance Coin BNB/USD Price Prediction and Technical Analysis, towards new all-time high

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6 years ago

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Binance Coin BNB Price Prediction and Technical Analysis
  • Binance Coin (BNB) is once again in a bullish move.
  • BNB soon to make its new all-time high.
  • The all-time high for BNB is $25.42 and the current price at press time is $25.28 USD.

Binance Coin once again gained the momentum and seems it will break its own record. Yes, you heard it right the all-time high for BNB is $25.42 which was on 20th April (25 days ago). This target was achieved after Binance launches DEX. At the time of writing this analysis, BNB is valued at $25.28 so it seems that it will achieve its new all-time high within hours.

BNB is up by more than 3.86% within the last 24 hours while it has gained by 17.5% in the last 7 days. It has almost doubled in price within the last 1 year as it is more than 94.7%

Binance Coin BNB/USD Price Analysis

Binance Coin was dropped soon after the announcement of Binance hack. Hackers steal 7000 Bitcoins worth $40 million due to a security breach in Binance system.

BNB/USD price once again gained the momentum soon after Bitcoin sudden price surge. The 24-hour trading volume of Binance Coin as per CoinMarketCap is $367,928,766 USD while the market capitalization till press time is $3,568,872,185 USD.

Almost 50 per cent of the trading volume of BNB is from Binance itself in the BNB/USDT and BNB/BTC trading pair. Let’s have a look at the BNB price chart and discuss the technical analysis.

Binance Coin BNB/USD price analysis
Binance Coin BNB Price Chart by TradingView

While we look at the technical indicators like Moving Averages and Oscillators it seems that the bullish trend for BNB will continue. Almost all the daily and hourly moving averages and oscillators are in the buying zone.

Volume Weighted Moving Average (20) for BNB is 22.1430 which is in the trap of buying pressure zone which is a good sign.

Ichimoku Cloud Base Line (9, 26, 52, 26) on a daily basis is in the neutral zone with a value of 22.1400

Relative Strength Index (14) is 64.9441 which is between the buy and sell pressure zone.

However, daily MACD Level (12, 26) for BNB is 0.5638 which is indicating a buy signal.

Conclusion

The nest target levels for Binance Coin BNB is $26.6536 if the current bull run continues however, the support levels are $22.88 and $21.19 USD.

This article should not be considered as investment advice. Please conduct your own research before investing in any cryptocurrency.

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.

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Ashish is a cryptocurrency journalist who has been passionately involved in the bitcoin space since 2016. His interests lie in bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.