Binance Coin Price Prediction 2021 — Will BNB Hit 500$ in 2021?

This Binance Coin (BNB) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our BNB price analysis and prediction.

Binance Coin (BNB) is one of the digital assets in the crypto market that does not need much introduction. In the past months, BNB has been performing well in terms of market growth rate and market capitalization. Today, the crypto price has over a +597% growth rate since the start of the year, with an estimated market capitalization of almost $40 billion.

Furthermore, Binance Coin has also announced its 13th quarterly BNB burn recently. The platform burned a total number of 2,2253,888 BNB coins, which is equal to $68 million. This event was performed to maintain healthy token circulation and slow down possible inflation rates.

Do you think Binance Coin will be a profitable investment before the year ends and by the year 2021? Let us see in this CoinQuora Binance Coin market analysis and price prediction 2021 article.

What is Binance Coin (BNB)?

Binance Coin is one of the biggest cryptocurrency exchanges globally which was launched in July 2017. Moreover, by aiming to bring cryptocurrency exchange to the forefront of financial activity worldwide. More so, the idea behind Binance Coin’s name is to show this new paradigm in global finance such as Binary Finance, or Binance Coin.

In addition, aside from being the biggest cryptocurrency exchange globally, Binance Coin has launched a whole ecosystem of functionalities for its users. However, the Binance Coin network adds the Binance Coin Chain, Academy, Trusted Wallet, and Research projects, which all employ the powers of blockchain technology to bring new-age finance to the world. Moreover, Binance Coin Coin is an integral part of the successful functioning of many of the Binance Coin sub-projects.

Now that you already have an idea about what BNB cryptocurrency is, do you think BNB is a good investment this year? If you are already excited to know, join me, and together let us check this BNB price analysis article.

Binance Coin Current Market Status

As of the time of writing this BNB price analysis, BNB trades at $313.08 with a 24-hour trading volume of $1,582,725,546, according to CoinMarketCap. The price of BNB has decreased by 5.09% in the last 24 hours.

Furthermore, BNB has a current circulating supply of 153,432,897.00 BNB. Currently, the top cryptocurrency exchanges for BNB are Binance, CoinTiger, FTX, BitWell, and BitZ.

Now, let’s proceed to the next part of this BNB technical analysis for 2021.

Binance Coin Price Analysis

Currently, BNB holds 4th place on CoinMarketCap. But will the latest upgrades, development, and changes in the BNB blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this BNB price prediction article.

In the daily frame chart shown above, we can see the Symmetrical Triangle Pattern. This pattern shows the period of consolidation that may lead to a price breakdown or breakout. In the foreseeable future, we can say that ETN has a higher chance of going bearish than bullish.

As shown above, at the beginning of this month, ETN turned from its bear to bull trend. This is the result of the high trade volume that happened in that period.

The Relative Strength Index (RSI) is at 48.29, which means that BNB is in neither an overbought nor oversold state. Hence, this may lead to a price reversal at any given time. 

Therefore, traders must trade crypto carefully and must not be affected by the market hype. Keeping all this in mind, traders can be aware and move away from unexpected losses due to the crypto market’s wild swings.

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of BNB.

Since the start of 2021, BNB’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, BNB has a competitive market this 2021.

Binance Coin Price Prediction

The chart below shows that BNB has performed great over the past few days. If this trend continues, BNB might run along with the bulls, overtaking its $381 resistance level and climb higher.

Conversely, if the investors turn against the crypto, the bears might take over and dethrone BNB from its uptrend position. In simpler terms, the price of BNB might plummet to almost $299, a bearish signal.

Meanwhile, our long-term BNB price prediction for 2021 is bullish. It has a high possibility of reaching new heights. However, that will only happen if it breaks many previous psychological resistances.

Conclusion

BNB has a bright future ahead of it in 2021. With the ongoing developments happening within the BNB ecosystem, as well as in the overall crypto market, we may see BNB reach new heights.

Bullish BNB price prediction 2021 is $381. As said above, it may even reach $417 if investors have decided that BNB is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

Binance Coin Price Prediction 2022

If this bullish trend continues, BNB will reach $450 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $488. Then this rise will slow down, but no major falls are expected. With upcoming, partnership, and developments reaching $450 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

Binance Coin Price Prediction 2023

If BNB holds the support level around 200-MA, the long-term moving average of 200 days firmly, buyers will then have ample time and stability to forge the next attack mission on the vital level at $500, making it not plummet but play consistently.

Binance Coin Price Prediction 2024

As per the latest upgrades, developments, BNB price prediction, and new project forecasts of the platform, BNB investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of BNB in the crypto market, and it will be the best investment as the price can spike and reach around $538.

Binance Coin Price Prediction 2025

In the next four years, BNB prices could race up to $600. However, reaching this level could not be so difficult for BNB as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that BNB has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

FAQ

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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Source: https://coinquora.com/binance-coin-bnb-price-prediction-2021/