BNB Price Prediction — Will BNB Hit $700 Soon?

BNB Price Prediction — Will BNB Hit $700 Soon?
  • BNB price prediction is $331.2 to $650.5.
  • BNB price will also reach $700 soon.
  • BNB’s bearish market price prediction for 2022 is $185.1.

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

BNB Current Market Status

According to coingecko, the price of BNB is $295.48 with a 24-hour trading volume of $1,439,938,773 at the time of writing. However, BNB has decreased to 1.8% in the last 24 hours.

Moreover, BNB has a circulating supply of 168,137,035 BNB. Currently, BNB trades in cryptocurrency exchanges such as  Binance, MEXC, Bybit, FTX, and CoinTiger.

What is BNB (BNB)?

BNB, a cryptocurrency used to pay and trade in Binance’s own cryptocurrency exchange. The exchange was the largest crypto exchange in the world as of January 2018, facilitating over 1.4M transactions per second. Moreover, BNB users receive a discount on Binance Exchange transaction fees as an incentive.

BNB can also be traded or exchanged with other cryptos. It was created in July 2017 and worked on the Ethereum blockchain with the ERC-20 token before it became Binance’s own blockchain, Binance Chain’s own currency.

BNB (BNB) Price Prediction 2022

BNB holds the 5th position on CoinGecko right now. BNB price prediction 2022 is explained below with a daily time frame.

BNB/USDT Descending Triangle Pattern (Source: Tradingview)

The descending triangle pattern most commonly seen during downtrends and is often interpreted as a bearish signal. 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, traditionally regarded as a bearish chart pattern. A descending triangle pattern, on the other hand, can be bullish.

Currently, BNB is at $295.48. If the pattern continues, the price of BNB might reach the resistance level of $457 & $655. If the trend reverses, then the price of BNB may fall to $260.

BNB (BNB) Support and Resistance Level

The below chart shows the support and resistance level of BNB.

BNB/USDT Support and Resistance Level (Source: TradingView)

From the above monthly time frame, it is clear the following are the resistance and support levels of BNB.

Resistance Level 1$331.2
Resistance Level 2$457.6
Resistance Level 3$650.5
Support Level 1$259.5
Support Level 2$185.1
BNB Resistance & Support Level

Furthermore, the charts show that BNB has performed a bullish trend over the past month. If this trend continues, BNB might run along with the bulls overtaking its resistance level at $650.5.

Accordingly, if the investors turn against the crypto, the price of the BNB might plummet to almost $185.1, a bearish signal.

BNB Price Prediction 2022 — RVOL, MA, and RSI

The Relative Volume (RVOL) of BNB 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. From the mid of October to till at the time of writing, RVOL of BNB lies below the cutoff line, indicating weaker participants in the current trend.

BNB/USDT RVOL, MA, RSI (Source: TradingView)

More so, the BNB’s Moving Average (MA) is shown in the chart above. Currently, BNB is in a bearish state. Notably, the BNB price lies below 50 MA (short-term), so it is completely in a downward trend. Therefore, there is a possibility of a reversal trend of BNB at any time.

Meanwhile, the relative strength index (RSI) of the BNB is at a level of 36.26. This means that BNB is in a nearly oversold state. However, this means a major price reversal of BNB may occur in the upcoming days.

BNB Price Prediction 2022 — ADX, RVI

Let us now look at BNB’s Average Directional Index (ADX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. More so, ADX is a component of the Directional Movement System. This system attempts to measure the strength of price movement in the upward and downward directions using DMI indicators with ADX.

BNB/USDT ADX, RVI (Source: TradingView)

The above chart represents the ADX of BNB. Currently, BNB lies in the range of 48.9, so it indicates a strong trend. 

Henceforth, from the above chart, the Relative Volatility Index (RVI) of BNB. RVI measures the constant deviation of price changes over a period of time rather than price changes. Eventually, the RVI of BNB is below the 50 levels, indicating that the direction of volatility is low. In fact, BNB’s RSI is at the 36.26 level thus confirming a potential sell signal.

Comparison of BNB with BTC, ETH

The below chart shows the price comparison between Bitcoin, Ethereum and BNB.

BTC Vs ETH Vs BNB Price Comparison (Source: TradingView)

From the above chart, we can identify the trend of the ETH, BTC, and BNB is moving at the same level as the trend. This indicates that when the price of BTC increases or decreases, the price of ETH and BNB also increases or decreases respectively.

Conclusion

With continuous improvements in the BNB network, we can say that 2022 is a good year for BNB. For this reason, the bullish price prediction of BNB in 2022 is $650.5. On the other hand,  the bearish BNB price prediction for 2022 is $185.1.

Furthermore, with the advancements and upgrades to the BNB ecosystem, the performance of BNB would rise to reach above its new all-time high (ATH) of $686.31 very soon. But, it might also reach $700 if the investors believe that BNB is a good investment in 2022.

FAQ

What is a Binance Coin?

Binance Coin (BNB) is an exchange based token which was created and issued by Crypto Exchange Binance.

Where can you purchase BNB?

BNB has listed on many crypto exchanges which include Binance, CoinTiger, Huobi Global, FTX, and Bybit.

Will BNB reach a new ATH soon?

With the ongoing developments and upgrades within the BNB platform, it has a high possibility of reaching its ATH soon.

What is the current all-time high (ATH) of Binance Coin?

On May 10, 2021, BNB reached its new all-time high (ATH) of $686.31.

Is BNB a good investment in 2022?

Binance Coin seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of BNB in the past few months, BNB is considered a good investment in 2022.

Can Binance Coin (BNB) reach $700?

Binance Coin (BNB) is one of the active crypto that continues to maintain its Bullish state. Eventually, if this bullish trend continues then Binance Coin (BNB) will hit $700 soon.

What will be the BNB price by 2023?

Binance Coin (BNB) price is expected to reach $810 by 2023.

What will be the BNB price by 2024?

Binance Coin (BNB) price is expected to reach $950 by 2024.

What will be the BNB price by 2025?

Binance Coin (BNB) price is expected to reach $1010 by 2025.

What will be the BNB price by 2026?

Binance Coin (BNB) price is expected to reach $1030 by 2026.

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

Recommended for You

A dedicated writer who shows her interest in writing all sorts of content about the cryptocurrency market in NewsCrypto. She is an enthusiastic reader and writer with passion for sharing crypto news and trends.