Price Movement – Binance Coin ( BNB):
Binance Exchange, one of the leading exchanges of the crypto market have their own coin known as Binance Coin (BNB).
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At the time of writing BNB is being traded at the price of $643.35. The price of BNB has decreased by almost 2.15% in the past 24 hours. The daily trading volume has also decreased by almost 7.95% in one day. BNB is listed on coinmarketcap at 3rd spot according to market capital and has a market dominance of about 3.75%.
BNB before the crash had achieved its all-time high around the price of $691.8 in May 2021. It later fell down to the price of $211.7 during the crash and showed reversal from there. As compared to other coins BNB has been one of the fast gainers and is now on its way to creating a new all-time high.
BNB has a total supply of 166.8M tokens and has an equal circulating supply of 166.8M coins. BNB can be traded at a lot of different exchanges such as Binance, OKEx, Huobi with different trading pairs.
Technical Analysis – Binance Coin (BNB)
BNB has one of the highly bullish coins. The price of the coin has been printing green candles for the past few days. The momentum is strong which can lead BNB to touch $700. This would result in a creation of a new all-time high for the price.
The price has broken above the daily order block after staying there for a few days. It broke above the order block with a gigantic green candle that has resulted in the creation of a new order block which may pose as a reason for the price to dropdown.
Right now the price is highly bullish (at least till it crosses the previous all-time high). If the price gets stable above we can expect higher highs for the price. If it gets rejected then the order block around $550 can be a good spot too long.
Long Term Prediction – Binance Coin (BNB)
According to wallet investors, the price of BNB is highly bullish in nature and is a safe investment and the exchange would continue to be one of the leading exchanges in the world. According to their predictions, BNB will reach a value of $1,038.520 in one year. For a five-year plan, BNB is expected to reach a value of $2,630.390.
