At the time of writing, BNB is being traded at the price of $522.21. The price of the coin has decreased by almost 1% in the past 24 hours. The maximum and minimum of the day are around $527.70 and $508.59. The daily trading volume has on the other hand has also decreased by almost 19% in one day. BNB is listed on coinmarketcap at 3rd spot according to market capital and has a market dominance of 3.87%.
BNB before the crash had achieved its all-time high around the price of $698.21 in March 2021. During the crash, BNB created a bottom and dropped down to $211 in the month of May. Just like many other coins, the coin showed reversal and it was strong enough. BNB eventually went on to create a new neat all-time high around the price of $669 during the month of November.
BNB has a total supply of around 166M tokens and has all of them in circulation i.ie around 166M. BNB can be traded at a lot of different exchanges such as Huobi, Binance, KuCoin, FTX.
Technical Analysis – Binance Coin
BNB has been consolidating for a while. Just like many other coins, BNB has been range bound and we have seen no moves from the coin whatsoever. The price had tapped into the order block two/ three times and we have seen that it has bounced every time. The price is currently above the retail support.
If the BTC drops, we can expect altcoins to drop as well. As a result, we can expect the coin to drop as well. if the retail support breaks, we can expect the price of the coin to fall down even harder and hit the daily order block that is present below. Lowe time frame confirmations should be taken into consideration.
Price Prediction – Binance Coin (BNB)
BNB has been one of the highly bullish coins in the market. According to wallet investor, BNB in one year is expected to reach a value of $993. In five years, it is expected to touch $2770. This shows that even though the coin has a huge amount of potential in it and would give an amazing return but traders think that it wouldn’t be long before it reaches a new all-time high and starts trading above $10.
