- Bullish BNB price prediction is $674 to $957.
- BNB price will also reach $1K soon.
- BNB bearish market price prediction for 2021 is $225.4.
In Binance Coin (BNB) price prediction 2021, 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 $609.76 with a 24-hour trading volume of $2,588,359,982 at the time of writing. However, BNB has decreased to 6.7% 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, Mandala Exchange, FTX, CoinTiger, and Huobi Global.
What is Binance Coin (BNB)?
Binance Coin is 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. Binance Coin 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.
Binance Coin (BNB) Price Prediction 2021
Binance Coin holds the 3rd position on CoinGecko right now. BNB price prediction 2021 explained below with a weekly time frame.
The ascending triangle is a bullish formation which forms as a continuation pattern during an uptrend. There are some cases where ascending triangles form as an inverted pattern at the end of a downtrend, but are generally continuation patterns. Wherever they form, ascending triangles are a bullish pattern representing accumulation.
Currently, BNB is at $609.76. If the pattern continues, the price of BNB might reach the resistance level to $747.4 and $957.3. If the trend reverses, then the price of BNB may fall to $225.4.
Binance Coin (BNB) Support and Resistance Level
The below chart shows the support and resistance level of BNB.
From the above daily time frame, it is clear the following are the resistance and support levels of BNB.
|Resistance Level 1||$674|
|Resistance Level 2||$957.3|
|Support Level 1||$524.2|
|Support Level 2||$318|
|Support Level 3||$225.4|
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 $957.3.
Accordingly, if the investors turn against the crypto, the price of the BNB might plummet to almost $225.4, a bearish signal.
Binance Coin Price Prediction 2021 — 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.
More so, the BNB’s Moving Average (MA) is shown in the chart above. Currently, BNB is in a bullish state. Notably, the BNB price lies above 50 MA (short-term), so it is completely in a positive 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 level 67.31. This means that BNB is in a nearly overbought state. However, this means a major price reversal of BNB may occur in the upcoming days. So, traders need to trade carefully.
Binance Coin Price Prediction 2021 — ADX, RVI
Let us now look at Binance Coin’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. 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.
The above chart represents the ADX of Binance Coin. Currently, BNB lies in the range at 37.9, so it indicates a strong trend.
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. The RVI of BNB is above the 50 level, indicating that the direction of volatility is high. In fact, BNB’s RSI is at the 67.31 level thus confirming a potential buy signal.
Comparison of BNB with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum and Binance Coin.
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.
With continuous improvements in the Binance Coin network, we can say that 2021 is a good year for BNB. For this reason, the bullish price prediction of Binance Coin in 2021 is $957.3. On the other hand, the bearish BNB price prediction for 2021 is $225.4. Furthermore, with the advancements and upgrades on the BNB ecosystem, the performance of BNB would rise reaching $747.4 very soon. But, it might also reach $1K if the investors believe that BNB is a good investment in 2021.
Binance Coin (BNB) is an exchange based token which was created and issued by Crypto Exchange Binance.
BNB has listed on many crypto exchanges which include Binance, Mandala Exchange, FTX, CoinTiger, and Huobi Global.
With the ongoing developments and upgrades within the BNB platform, it has a high possibility of reaching its ATH soon.
On May 10, 2021, BNB reached its new all-time high (ATH) of $686.31.
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 2021.
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 $1K soon.
Binance Coin (BNB) price is expected to reach $900 by 2022.
Binance Coin (BNB) price is expected to reach $1,750 by 2023.
Binance Coin (BNB) price is expected to reach $2,450 by 2024.
Binance Coin (BNB) price is expected to reach $3,950 by 2025.
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.
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