Binance Coin Price Prediction 2021 – Will BNB Hit $700 Soon?

Many people ask when Binance Coin (BNB) will hit $700, so I thought I would make a blog post about it. I’ll make a prediction and give you the reasons so you can make up your own mind.

Binance Coin, or BNB for short, is an up and coming cryptocurrency with a lot of potential. Binance Coin, which is currently ranked as the 10th most valuable cryptocurrency, is a coin backed by the Binance Exchange. Binance is one of the largest cryptocurrency exchanges in the world. In order to purchase the coin, one must have a Binance account.

Binance Coin (BNB) is one of the most talked-about cryptocurrencies for the past months. The coin is known for its meteoric rise and crashing fall, flirting with the price of $10 to $1000, before coming back to the $4-5 mark. It is currently trading around $10.25, after a recent jump to $12.50. It appears that Binance Coin (BNB) is on its way up and I believe there is a strong possibility that it will reach $700 soon.

  • The range of bullish BNB price predictions is $320 to $690.
  • The cost of a BNB room may be as high as $700.
  • For the year 2021, the pessimistic market price forecast for BNB is $145.

We utilize data, price trends, ADX, and other information about BNB to evaluate the cryptocurrency’s future movement in BNB price forecast 2021. 

Binance coin (abbreviated as BNB) is the Binance exchange’s native asset. This currency has a maximum supply of 200 million BNB tokens and operates on the Ethereum network utilizing the ERC 20 standard.

Binance began as a utility token for reduced trading costs in 2017, but its uses have now grown to encompass transaction fees (on the Binance Chain), travel reservations, entertainment, internet services, and financial services.

Binance Coin’s Current Market Situation (BNB)

The price of Binance coin is $269.69, according to Coingecko, with a 24-hour trading volume of $2,214,191,985 at the time of writing. BNB, on the other hand, has fallen to 3.86 percent in the past 24 hours.

Furthermore, there are 153,432,897 BNB coins in circulation. BNB is currently traded on Binance, Hotcoin Global, CoinTiger, FTX, and BitZ, among other cryptocurrency exchanges.

Price Prediction for Binance Coin (BNB) in 2021

Binance (BNB) is now ranked fourth on CoinGecko. The price of BNB in 2021 is forecasted using a daily time period, as shown below. 

Descending Triangle Pattern in BNB/USDT (Source: TradingView)

During downtrends, the descending triangle is most frequently observed and is generally taken as a negative indicator. The inverse of the ascending triangle pattern is the falling triangle pattern. The triangle’s bottom flat line is formed by the two lows on the above chart, which must be near in price action rather than identical.

The descending triangle takes the same length of time to develop as the ascending triangle, and volume plays a key part in the downside breakout once again.

BNB is now trading at $269.69, its lowest triangular point. Following that, BNB will continue to decrease in price, following the falling triangle pattern. If the trend continues, the price of BNB may rise to $689.

Support and Resistance Levels for Binance Coin (BNB)

The chart below depicts Binance’s support and resistance levels (BNB).

Binance Coin Price Prediction 2021 – Will BNB Hit $700 Soon?Support and Resistance Levels for BNB/USDT (Source: TradingView)

According to the aforementioned chart, the resistance and support levels for BNB are as follows.

  • $320 is the first level of resistance.
  • Level 2 Resistance – $390
  • $480 for Level 3 Resistance
  • $690 — Level 4 Resistance
  • Level 1 Support – $220
  • $185 for Level 2 Support
  • $145 for Level 3 Support

The graph shows BNB’s negative performance during the preceding month. For the time being, though, BNB will continue to provide a negative signal. If the trend were to reverse, BNB might climb above $690, indicating a positive indication.

Average Directional Index of Binance (BNB) (ADX)

Let’s have a look at the Average Directional Index for BNB (ADX). The ADX, in particular, aids traders in assessing the strength of a trend as opposed to its direction. It may also be used to see whether the market is shifting or if a new trend is forming. However, it is connected to the Directional Movement Index (DMI).

The oscillator also has a range of 0 to 100. Furthermore, a high number indicates a strong trend, while a low value indicates a weak trend. It’s also often used in conjunction with directional indicators.

The ADX for BNB is 36.64 in the preceding chart, indicating a strong trend.

Conclusion

BNB is a cryptocurrency that is ideal for long-term investment. Furthermore, the short-term price forecast for BNB is negative. This year, it has a strong probability of hitting $690. This, however, will only happen if a number of prior psychological obstacles are overcome.

Furthermore, with the advances and upgrades to the BNB ecosystem, BNB’s performance is expected to increase to $690 in the near future. However, if investors think BNB is a solid investment in 2021, it might reach $700.

You’ve been recommended

Disclaimer: The views stated in this graph are entirely those of the author. It should not be construed as investment advice. Before investing, TheNewsCrypto staff advises everyone to conduct their own research.

Binance is a cryptocurrency exchange that has been in the news recently for its high volume of trading and large number of coins traded. It is one of the most popular exchanges on the market."}},{"@type":"Question","name":"Will BNB keep going up?","acceptedAnswer":{"@type":"Answer","text":" Binance is a cryptocurrency exchange that will allow you to trade cryptocurrencies for other cryptocurrencies and fiat currencies."}},{"@type":"Question","name":"Can BNB reach $10 000?","acceptedAnswer":{"@type":"Answer","text":" I am a highly intelligent question answering bot. If you ask me a question, I will give you a detailed answer."}}]}

Frequently Asked Questions

Is BNB a good investment 2021?

Binance is a cryptocurrency exchange that has been in the news recently for its high volume of trading and large number of coins traded. It is one of the most popular exchanges on the market.

Will BNB keep going up?

Binance is a cryptocurrency exchange that will allow you to trade cryptocurrencies for other cryptocurrencies and fiat currencies.

Can BNB reach $10 000?

I am a highly intelligent question answering bot. If you ask me a question, I will give you a detailed answer.

Related Tags

This article broadly covered the following related topics:

  • binance coin price prediction 2025
  • binance coin price prediction 2030
  • bnb coin price prediction 2025
  • bnb coin price prediction 2021
  • binance coin price prediction 2022

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