Binance coin price prediction 2024-2030: Is BNB ready for the bull run?

Key takeaways:

• Binance coin price prediction for 2024 indicates that the coin’s price could reach a maximum price of $744.32.
• The Binance coin price prediction for 2027 projects a maximum price of $2,536and a minimum price of $2,096.
• By 2030, BNB’s price could surge to $7,847 with broader acceptance in mainstream finance.

After notable changes in its executive team, Binance has shown resilience and prospects for recovery. The departure of Changpeng Zhao, Binance’s CEO, who was also embroiled in legal challenges, initially caused a decline in the value of Binance coin (BNB). Despite this initial setback, the cryptocurrency has shown a positive trend.

What next for BNB in the remainder of 2024 and beyond? What can be the future price movements? Let’s get into the BNB price prediction and technical analysis.

Overview

Binance coin price prediction: Technical analysis

Binance coin price analysis: Cryptocurrency devalues to $567 amidst bearish side

TL;DR Breakdown

• Binance Coin price analysis confirms a downward trend at $567.4.
• The cryptocurrency has lost up to 1.83% of its value during the day.
• BNB prices are seeking resistance around the $618.8 boundary.

On October 10, 2024, Binance Coin price analysis revealed a downward trend for the cryptocurrency. The coin value has deteriorated to $567.4 low during the past 24-hours. Side by side, the market sentiment remained extremely negative. Overall, the cryptocurrency has experienced up to 1.83% of a loss amidst the rising selling pressure.

BNB/USDT price analysis on the daily timeframe

The 1-day price chart of Binance Coin price analysis revealed a declining trend for the cryptocurrency today. Coin value has decreased to $567.4 low during the day. Moreover, the overall market sentiment remains towards the negative end. Considering the earlier upside, the coin value still stands above the moving average.

The gap between the Bollinger bands determines market volatility. The Bollinger bands have widened, leading to a subtle rise in volatility. Side by side, the upper end of the Bollinger bands indicator, acting as resistance, has moved to $618.8. Whereas, the lower end of the Bollinger bands indicator, serving as support, has shifted to 536.5.

The Relative Strength Index (RSI) indicator is present within the neutral area. The indicator’s value has been reduced to 50.76 amidst the growing selling pressure. The downward curve on the RSI graph signifies a bearish strength. This bearish market has led the market to a state of instability.

BNB price analysis on the 4-hour chart

The four-hour price analysis of Binance Coin confirmed a decreasing market trend for the cryptocurrency. The coin value has depreciated to $567.3 low in the past four hours of the day. The red candlestick on the four-hour price chart marks a bearish market. Despite the earlier increases, currently the market trend remains negative.

The Bollinger bands are expanding, leading to a subtle rise in volatility. This increase refers to a higher market unpredictability. Moving ahead, the upper limit of the Bollinger bands indicator, serving as resistance, has shifted to $586.1. Whereby, the lower limit of the Bollinger bands indicator, serving as support, has moved to the $561.7 end.

The RSI indicator is present within the neutral region at 45.79 low. This signifies a bearish market sentiment, as the RSI value is still moving downward. The steep bearish slope on the RSI indicator marks a rising selling activity. If the bearish momentum continues to intensify, the RSI value can recede even further.

BNB technical indicators: Levels and action

Daily simple moving average (SMA)

Daily exponential moving average (EMA)

What to expect from Binance coin price analysis

Binance Coin price analysis for the day gives out a highly bearish prediction regarding the ongoing market events. Coin value has dropped down to $567.4 low during the day. If observed overall, the cryptocurrency has lost up to 1.83% of value today. The selling activities remained dominant over the buying activities, as reflected in the market scenario. Technical indicators are giving out a neutral verdict; however, the price charts reflect a bearish trading environment.

Is BNB a good investment?

Considering the recent price moves, purchasing Binance coins to hold them for an extended period could yield significant returns. From a five-year plan standpoint, cryptocurrency is projected to see a large increase, possibly crossing above $9000 in 2030. However, financial choices shouldn’t be made exclusively based on our data.

Why is BNB down?

BNB’s price decreased over the last 24 hours, still above the support available at $567.4. Sellers have recently stepped in to sell the assets; moreover, the support floor at that level seems unstable, as the bears have dominated in the past weeks.

Will BNB reach $700?

Most crypto analysts, including Wallet Investor and Coincodex, are bullish on BNB. According to Binance coin price prediction, its price is expected to cross the $700 mark by the end of 2024, which would be quite higher than the current Binance coin price.

Will BNB reach $2000?

Currently, BNB is feeling pressure from legal challenges around its ecosystem. However, as these issues are settled by next year, the coin’s price is expected to start a bull run. As per Binance coin price prediction, BNB will reach nearly $2000 by the end of 2026 and surpass this mark at the start of 2027.

Will BNB reach $3000?

Binance allows users to save up to 25% on spot margin trading fees by using BNB. Another additional factor is that users can save up to 10% on future trading expenditures with the token, which makes it a primary choice. Binance also uses a significant portion of its earnings to buy back BNB. The burning process also decreases the token supply and increases demand, which is expected to increase in value above $3000 in 2028, according to Binance coin price prediction.

Does BNB have a good long-term future?

All cryptocurrencies involve risks and uncertainties. However, BNB has a strong market position and a management team that runs the world’s largest cryptocurrency exchange. BNB has the potential for increased utility and is expected to retain a strong position in the cryptocurrency sphere. Binance coin price prediction suggests that holding it for the long haul is a good option, with tenfold expected returns in five years and the price reaching $7000 by 2030. 

Recent news/opinion on BNB

• With Binance’s assistance, the Enforcement Directorate (ED) of India has detained four people connected to the Fiewin gambling software scam, which is said to have cost victims over Rs 400 crore ($47.6 million).

• On September 13, the charitable division of Binance, Binance Charity, launched an airdrop of up to $1 million worth of BNB to help those affected by the storm in northern Vietnam. Those who meet the requirements and can prove they live in one of the 25 impacted provinces will get $50 in BNB.

BNB price predictions for October 2024

In October 2024, Binance coin could reach a maximum price of $620.6. The average trading price is expected to be $575 for the month, while the lowest it can go is $530.6, according to the analysis, is $ 500.2.

BNB price prediction 2024

According to the Binance coin price prediction, BNB might reach a minimum price of $657.15. The maximum price can reach $744.32, with an average trading price of about $687.09.

BNB price prediction 2025 – 2030

Binance coin price prediction 2025

Binance coin (BNB) could reach a maximum price of $1,159 in 2025, with an average value of $1,008 and a minimum of $980.67.

Binance coin price prediction 2026

In 2026, BNB may scale to a maximum of $1,695, with an average price of $1,479 and a minimum of $1,439.

Binance coin price prediction 2027

For 2027, Binance Coin price forecast suggests that BNB could achieve a maximum valuation of $2,536, with an average trading price of $2,170 and a minimum of $2,096.

Binance coin price prediction 2028

In 2028, BNB is projected to have a maximum price of $3,642, an average price of $3,153, and a minimum value of $3,044.

Binance coin price prediction 2029

By 2029, BNB could reach a maximum of $5,410, with an average trading price of $4,671 and a minimum of $4,545.

Binance coin price prediction 2030

In 2030, BNB may attain a maximum valuation of $7,847, with an average price of $6,721 and a minimum of $6,534.

BNB market price prediction: Analysts’ BNB price forecast

Cryptopolitan’s BNB price prediction

Our forecast shows that Binance coin will achieve a high price of $744.32 near the end of 2024. In 2025, BNB price will range between $980.67 and $1,159. In 2030, it will range between $6,534 and $7,847, with an average of $6,721. It is important to consider that the predictions are not investment advice. Professional consultation is suggested, or you can carry out your research.

BNB historic price sentiment

• Binance coin (BNB) was launched in July 2017 through an Initial Coin Offering (ICO), with an initial price of around $0.10, according to historical crypto market data. As a utility token for the Binance cryptocurrency exchange, it offered users reduced trading fees.
• In late 2017, BNB’s price significantly increased and reached its first major peak in January 2018, hitting approximately $24. However, it experienced a decline following the broader market correction.

• Throughout 2018 and 2019, BNB’s price experienced gradual growth as the BNB market soared. In 2018 BNB traded near $13 for most of the year but stepped down to $5 by December. However, BNB reached above $30 in June 2019.
• Despite the global economic uncertainty caused by the COVID-19 pandemic, BNB maintained relative stability and saw an upward trend in 2020. Due to the growing popularity of Binance as an exchange and the expansion of its ecosystem, the coin touched the $34 range in November 2020.
• BNB experienced a significant bull run in early 2021, reaching a high above $600 in May 2021. Positive market sentiment helped improve its market cap, which remained at an all-time high until recently.
• Binance Coin’s price dynamics in 2022 were characterized by volatility and were influenced by a combination of macroeconomic factors and regulatory developments around Binance exchange, which led to a bearish scenario. This took BNB to less than $220 in June and an average price of $250 in December.
• BNB remained a significant player in the cryptocurrency market in 2023, recovering to about $350 in April. However, it soon lost momentum, reaching about $205 in October. In late December, BNB climbed back to about $325.
• At the beginning of 2024, the Binance Coin traded near $300, rising to $425 by March. It surged further to $600 by the end of the month and peaked at an all-time high of $717.48 on June 6.
• After fluctuating between $488 and $605 in July and August, BNB recovered to $620 in September and is trading near $580 at the start of October.

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