Binance Coin (BNB) Price Prediction 2022 – Will BNB Hit $700 Soon?

• Bullish BNB price prediction is $344.4 to $686.5.
• Binance Coin (BNB) price might also reach $700 soon.
• Bearish BNB  price prediction for 2022 is $196.0.

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

Binance Coin (BNB) Current Market Status

According to CoinGecko, the price of Binance Coin (BNB) is $297.16 with a 24-hour trading volume of $1,362,378,265 at the time of writing. However, BNB has increased by nearly 0.47% in the last 24 hours.

Moreover, Binance Coin (BNB) has a circulating supply of 161,337,261 BNB. Currently, Binance Coin (BNB) trades in cryptocurrency exchanges such as Binance, FTX, KuCoin, Gate.io, HuobiGlobal.

What is Binance Coin (BNB)?

Binance Coin (BNB) was launched in 2017 as the utility token for Binance, one of the largest crypto exchanges. Initially, Binance Coin (BNB) was only used as transaction fees and trading fees on the exchange. Binance nearly holds the largest crypto trading volume of $7.6 billion at the beginning of Q2 2022.

Later in September 2020, Binance Smart Chain (BSC), an EVM-compatible proof-of-staked authority (PoSA) blockchain, went live. The exchange token migrated onto the BSC and its functionalities expanded.

Binance Coin (BNB) Price Prediction 2022

Binance Coin (BNB) holds the 5th position on CoinGecko. BNB price prediction 2022 is explained below with a daily time frame.

The above chart of Binance Coin (BNB) laid out the Inverted head and shoulder pattern. It is the inverse of the head and shoulder pattern. Generally, in this pattern, the price action slides downwards and then rises up. Thus, forming three troughs in the pattern, left shoulder, head, and right shoulder. This pattern can be a potential signal for the upcoming bullish market. If the price action establishes a breakout above the neckline resistance, the price might rise up to new highs.

Currently, Binance Coin (BNB) is in the range of $297.9 If the pattern continues, the price of BNB  might reach the resistance levels of $347.6, $447.8 and $540.7.If the trend reverses, then the price of BNB may fall to $277.1.

Binance Coin (BNB) Support and Resistance Levels

The chart below shows the support and resistance levels of the Binance Coin (BNB).

From the above daily time frame, we can clearly interpret the following as the resistance and support levels of the Binance Coin (BNB).

Resistance Level 1	$344.4
Resistance Level 2	$458.7
Resistance Level 3	$571.5
Resistance Level 4	$686.5
Support Level 1	$276.5
Support Level 2	$196.0

The charts show that Binance Coin (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 $686.5

Accordingly, if the investors turn against crypto, the price of Binance Coin (BNB)  might plummet to almost  $196.0, a bearish signal.

Binance Coin (BNB) Price Prediction 2022 — RVOL, MA, and RSI

The Relative Volume (RVOL) of Binance Coin (BNB) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of BNB lies below the cutoff line, indicating weak participants in the current trend.

Also, the Moving Average (MA) of Binance Coin (BNB) is shown in the chart above. Notably,  Binance Coin (BNB) price lies above 50 MA (short-term), so it is  in an uptrend. Currently, BNB has entered a bullish state. Therefore, there is a possibility of a reversal trend of BNB at any time.

Meanwhile, the relative strength index (RSI) of the BNB is 45.12. This means that Binance Coin (BNB) is in neither oversold or 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 (BNB) Price Prediction 2022 — ADX, RVI

Let us now look at the Average Directional Index (ADX) of the Binance Coin (BNB). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

The above chart represents the ADX of Binance Coin (BNB). Currently, the ADX of BNB lies in the range of 25.8 and thus, it indicates a strong trend. 

The above chart also represents the Relative Volatility Index (RVI) of Binance Coin (BNB). RVI measures the constant deviation of price changes over a period of time. The RVI of BNB lies below 50, indicating low volatility. In fact, the RSI of Binance Coin (BNB) is at 45.12 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 (BNB).

From the above chart, it can be interpreted that ETH, BTC, and BNB are moving in a similar trend. This indicates that when the price of BTC increases or decreases, the price of ETH and BNB also increase or decrease respectively.

Binance Coin (BNB) Price Prediction 2023

If the declining price action slows down in momentum and the trend reverses,  Binance Coin (BNB) might probably attain $750 by 2023.

Binance Coin (BNB) Price Prediction 2024

With several upgrades in the network, Binance Coin (BNB) might enter a bullish trajectory. If the coin grabs the attention of major investors, BNB might rally to hit $800 by 2024. 

Binance Coin (BNB) Price Prediction 2025

If Binance Coin (BNB) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 3 years, BNB would rally to hit $850.  

Binance Coin (BNB) Price Prediction 2026

If Binance Coin (BNB) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 4 years, BNB would rally to hit $900. 

Binance Coin (BNB) Price Prediction 2027

If Binance Coin (BNB) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 5 years, BNB would rally to hit $950. 

Binance Coin (BNB) Price Prediction 2028

If Binance Coin (BNB) holds up a strong stance as a better investment option for the next 6 years, it might witness significant price rallies. Thus, by 2028, BNB would hit $1000.

Binance Coin (BNB) Price Prediction 2029

If investors flock in and continue to place their bets on Binance Coin (BNB), it would witness major spikes. BNB might hit $1050 by 2029.

Binance Coin (BNB) Price Prediction 2030

With greater advancements in the Binance ecosystem, the crypto community might continue to invest in Binance Coin (BNB) for the next 8 years and drive significant price rallies for the token. Hence, Binance Coin (BNB) might hit $2000 by 2030.

Conclusion

With continuous improvements in the Binance Coin  network, we can say that 2022 is a good year for BNB. For this reason, the bullish price prediction of Binance Coin (BNB) in 2022 is $686.5. On the other hand,  the bearish price prediction of Binance Coin (BNB) price prediction for 2022 is $196.0.

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

FAQ

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

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