- Bullish BNB price prediction for 2023 is $239.4 to $277.7.
- Binance Coin (BNB) price might reach $400 soon.
- Bearish (BNB) price prediction for 2023 is $178.1.
In this Binance Coin (BNB) price prediction 2023, 2024-2030, we will analyze the price patterns of BNB by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
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TABLE OF CONTENTS |
|
INTRODUCTION |
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BINANCE COIN (BNB) PRICE PREDICTION 2023 |
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| Binance Coin (BNB) PRICE PREDICTION 2024, 2025, 2026-2030 |
| CONCLUSION |
| FAQ |
Binance Coin (BNB) Current Market Status
| Current Price | $208.27 | 24 – Hour Price Change | 1.29% Down |
| 24 – Hour Trading Volume | $445,847,351 |
| Market Cap | $32,041,640,323 |
| Circulating Supply | 153,845,505 BNB | All – Time High | $690.93 (On May 10, 2021) |
| All – Time Low | $0.09611 (On Aug 01, 2017) |
What is Binance Coin (BNB)
| TICKER | BNB |
| BLOCKCHAIN | Binance Chain |
| CATEGORY | July 2017 |
| ORIGIN DATE | July, 2017 |
| UTILITIES | Governance, security, gas fees & rewards |
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 2023.
Later in September 2020, Binance Smart Chain (BSC), an EVM-compatible Proof-of-Stake authority (PoSA) blockchain, went live. The exchange token migrated onto the BSC and its functionalities expanded.
Binance Coin 24H Technicals
(Source: TradingView)
Binance Coin (BNB) Price Prediction 2023
Binance Coin (BNB) ranks 4th on CoinMarketCap in terms of its market capitalization. The overview of the Binance Coin price prediction for 2023 is explained below with a daily time frame.
BNB/USDT Falling Wedge Pattern (Source: TradingView)
In the above chart, Binance Coin (BNB) laid out a falling wedge pattern. The falling wedge is a bullish pattern. Together with the rising wedge formation, these two create a powerful pattern that signals a change in the trend direction. The falling wedge pattern occurs when the asset’s price is moving in an overall bullish trend before the price action corrects lower. Within this pullback, two converging trendlines are drawn. One of the main features of the falling wedge pattern is the volume, which decreases as the channel converges.
The most commonly falling wedge pattern occurs in a clean uptrend. The price action trades higher, however, the buyers lose the momentum at one point and the bears take temporary control over the price action.
At the time of analysis, the price of Binance Coin (BNB) was recorded at $208.27. If the pattern trend continues, then the price of BNB might reach the resistance levels of $221.1, and $262.8 If the trend reverses, then the price of BNB may fall to the support of $203.8.
Binance Coin (BNB) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of Binance Coin (BNB) in 2023.
BNB/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as resistance and support levels of Binance Coin (BNB) for 2023.
| Resistance Level 1 | $239.4 |
| Resistance Level 2 | $277.7 |
| Support Level 1 | $203.7 |
| Support Level 2 | $178.1 |
BNB Resistance & Support Levels
Binance Coin (BNB) Price Prediction 2023 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Binance Coin (BNB) are shown in the chart below.
BNB/USDT RVOL, MA, RSI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the current Binance Coin (BNB) market in 2023.
| INDICATOR | PURPOSE | READING | INFERENCE |
| 50-Day Moving Average (50MA) | Nature of the current trend by comparing the average price over 50 days | 50 MA = $213.9Price = $205.9 (50MA > Price) |
Bearish(Downtrend) |
| Relative Strength Index (RSI) | Magnitude of price change;Analyzing oversold & overbought conditions | 36.40 <30 = Oversold 50-70 = Neutral>70 = Overbought |
Nearly Oversold |
| Relative Volume (RVOL) | Asset’s trading volume in relation to its recent average volumes | Below cutoff line | Weak volume |
Binance Coin (BNB) Price Prediction 2023 — ADX, RVI
In the below chart, we analyze the strength and volatility of Binance Coin (BNB) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
BNB/USDT ADX, RVI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the price momentum of Binance Coin (BNB).
| INDICATOR | PURPOSE | READING | INFERENCE |
| Average Directional Index (ADX) | Strength of the trend momentum | 12.6 | Weak Trend |
| Relative Volatility Index (RVI) | Volatility over a specific period | 41.23
<50 = Low |
Low Volatility |
Comparison of BNB with BTC, ETH
Let us now compare the price movements of Binance Coin (BNB) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs BNB Price Comparison (Source: TradingView)
From the above chart, we can interpret that the price action of BNB is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of BNB also increases or decreases respectively.
Binance Coin (BNB) Price Prediction 2024, 2025 – 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Binance Coin (BNB) between 2024, 2025, 2026, 2027, 2028, 2029 and 2030.
| Year | Bullish Price | Bearish Price |
| Binance Coin (BNB) Price Prediction 2024 | $460 | $190 |
| Binance Coin (BNB) Price Prediction 2025 | $465 | $210 |
| Binance Coin (BNB) Price Prediction 2026 | $480 | $235 |
| Binance Coin (BNB) Price Prediction 2027 | $500 | $248 |
| Binance Coin (BNB) Price Prediction 2028 | $520 | $260 |
| Binance Coin (BNB) Price Prediction 2029 | $550 | $288 |
| Binance Coin (BNB) Price Prediction 2030 | $600 | $320 |
Conclusion
If Binance Coin (BNB) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish Binance Coin (BNB) price prediction for 2023 is $277.7. Comparatively, if unfavorable sentiment is triggered, the bearish Binance Coin (BNB) price prediction for 2023 is $178.1.
If the market momentum and investors’ sentiment positively elevates, then Binance Coin (BNB) might hit $400. Furthermore, with future upgrades and advancements in the Binance Coin ecosystem, BNB might surpass its current all-time high (ATH) of $690.93 and mark its new ATH.
FAQ
1. What is Binance Coin (BNB)?
Binance Coin (BNB) is an exchange-based token living on the Binance Smart Chain (BSC). Initially launched as the utility token for paying the exchange transaction and trading fees, BNB extended into an efficient payment and investment option.
2. Where can you purchase Binance Coin (BNB)?
Binance Coin (BNB) has been listed mostly on all crypto exchanges – from Binance, OKX, Deepcoin, Bybit, and Cointr Pro.
3. Will Binance Coin (BNB) reach a new ATH soon?
With the ongoing developments and upgrades within the Binance Coin platform, BNB has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of Binance Coin (BNB)?
On May 10, 2021, Binance Coin (BNB) reached its new all-time high (ATH) of $690.93.
5. What is the lowest price of Binance Coin (BNB)?
According to CoinMarketCap, BNB hit its all-time low (ATL) of $0.09611 on Aug 01, 2017.
6. Will Binance Coin (BNB) reach $400?
If the bullish trend continues and if Binance Coin (BNB) retests its resistance levels, it will hit $400 soon.
7. What will be Binance Coin (BNB) price by 2024?
Binance Coin (BNB) price is expected to reach $460 by 2024.
8. What will be Binance Coin (BNB) price by 2025?
Binance Coin (BNB) price is expected to reach $465 by 2025.
9. What will be Binance Coin (BNB) price by 2026?
Binance Coin (BNB) price is expected to reach $480 by 2026.
10. What will be Binance Coin (BNB) price by 2027?
Binance Coin (BNB) price is expected to reach $500 by 2027.
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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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- Source: https://thenewscrypto.com/binance-coin-bnb-price-prediction
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