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The Binance Coin price prediction shows that BNB is likely to stay above the moving averages as eyes are currently glued on $600.
Binance Coin Prediction Statistics Data:
- Binance Coin price now – $599.6
- Binance Coin market cap – $86.7 billion
- Binance Coin circulating supply – 145.9 billion
- Binance Coin total supply – 145.9 billion
- Binance Coin Coinmarketcap ranking – #4
Investing early in cryptocurrencies can lead to significant rewards, and Binance Coin is a prime example of this potential. Currently, its price fluctuates between $587.20 and $600.89, with an all-time high of $720.67 reached on June 6, 2024, reflecting a 17.51% decline since then. Notably, it began its journey at an all-time low of $0.09611 on August 1, 2017, showcasing an incredible rise of +618,456.09%. This remarkable performance makes Binance Coin a token worth watching for both new and seasoned investors in the dynamic crypto landscape.
BNB/USD Market
Key Levels:
Resistance levels: $665, $675, $685
Support levels: $535, $525, $515
BNB/USD is likely to break out of a long-term descending channel, a pattern typically indicating consolidation, but signaling bullish momentum once broken to the upside. This movement, observed in the daily chart, had been forming for months before the price finally broke above the moving averages, confirming a shift in market sentiment.
Binance Coin Price Prediction: BNB May Go Bullish
Currently, the BNB coin is consolidating around $599.6, which is transitioning from resistance to support. This level is further reinforced by the 9-day moving average, which acts as a dynamic support. The price could test the 21-day moving average but it is managing to recover each time, indicating its strength at a key technical level. However, a breakdown of this level could lead to another test of $535, $525, and $515 supports, but for now, it remains intact.
Nevertheless, in as much as the 9-day MA remains above the 21-day MA, it is likely for the coin to face the north and the price could hit the nearest resistance levels at $665, $675, and $685 respectively. Meanwhile, if the sellers increase the selling pressure, there may be a little retreat to the south which could bring the coin below the lower boundary of the channel.
BNB/BTC Ranges within the Channel
Against Bitcoin, Binance Coin (BNB) keeps ranging below the 9-day and 21-day moving averages, and the price could make a bullish cross above the upper boundary of the channel. However, for the fact that the market trades at 8873 SAT, the crypto is likely to create additional gains if the 9-day moving average crosses above the 21-day moving average.
Nonetheless, if the buyers increase the buying pressure, the Binance Coin price may head towards the upper boundary of the channel before touching the resistance level of 9550 SAT and above. Meanwhile, any bearish movement may bring the price below the 21-day MA, and this could attract new sellers to come into the market with the next focus on the support level of 8200 SAT and below.
@CryptoZeinab, who has 98.4k followers on X (formerly Twitter), has analyzed $BNB and identified a potential bullish inverse Head & Shoulders pattern. A breakout above the neckline could propel the price upward, with the initial target at $650, and possibly reaching as high as $680.
$BNB forming a potential bullish inverse Head & Shoulders pattern!
A breakout above the neckline could send it flying – first stop $650, then maybe even $680. pic.twitter.com/uiYw8CiQpP
— Crypto Zeinab (@CryptoZeinab) October 18, 2024
Binance Coin Alternatives
Based on the daily chart, Binance Coin (BNB) has not yet exhibited a sustained bullish trend after reaching a high of $611.4. However, BNB/USD is showing the potential to break above the upper boundary of its current channel, especially if buying momentum strengthens in the coming days. The long-term outlook for BNB remains positive. In comparison, Pepe Unchained, a newer project, has demonstrated strong demand during its presale phase, raising nearly $22 million in just three months. Despite some investors viewing the presale duration as extended, the consistent interest highlights its growing traction.
Pepe Unchained Closing In On $22 Million. Get Ready For Major Growth
Pepe Unchained is rapidly approaching $22 million in its pre-sale, signaling strong demand and a unique opportunity for investors to capitalize on its growth. With its innovative Layer 2 blockchain designed specifically for meme coins and substantial infrastructure, including a decentralized exchange and developer grants, Pepe Unchained is positioning itself as a leader in the meme coin market. Now is the perfect time to accumulate, with retail interest at low levels and major growth on the horizon. Don’t miss out on this chance to invest before the next price increase.
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