Key takeaways:
- Binance coin price prediction for 2024 indicates that the coin’s price could reach a maximum price of $781.67.
- The Binance coin price prediction for 2027 projects a maximum price of $2,589 and a minimum price of $2,268.
- By 2030, BNB’s price could surge to $7,992 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? Let’s get into the BNB price prediction and technical analysis.
Overview
| Cryptocurrency | Binance coin |
| Token | BNB |
| Price | $564.4 |
| Market Cap | $82,458,580,680 |
| Trading Volume | $1,659,688,408 |
| Circulating Supply | 145,935,337 BNB |
| All-time High | $717.48 June 06, 2024 |
| All-time Low | $0.09611 Oct 19, 2017 |
| 24-h High | $579.08 |
| 24-h Low | $561.03 |
Binance coin price prediction: Technical analysis
| Metric | Value |
| Price Prediction | $788 |
| Volatility | 5.62% |
| 50-Day SMA | $ 570.12 |
| 14-Day RSI | 49.59 |
| Sentiment | Bearish |
| Fear & Greed Index | 57 (Greed) |
| Green Days | 16/30 (53%) |
| 200-Day SMA | $515.70 |
Binance coin price analysis: BNB value descends to $564.4 low after downside
TL;DR Breakdown
- Binance Coin price analysis confirms a downtrend at $564.4.
- Cryptocurrency has devalued up to 1.58% during the day.
- BNB prices seek resistance around the $602.4 boundary.
On August 26, 2024, Binance Coin price analysis revealed a downward trend for the cryptocurrency. Currently trading at $564.4, the cryptocurrency has experienced sufficient decline today. Overall, the cryptocurrency has lost up to 1.58% of value in the last 24 hours. Henceforth, the overall market sentiment remains negative considering the descending movement this week.
BNB price analysis on the daily timeframe: Coin value deteriorates below the $564.4 marker
The 1-day price chart of Binance Coin reveals a decreasing trend for the cryptocurrency. Cryptocurrency value has declined to $564.4 marker in the past 24-hours. This signifies a bearish trend and an overall negative market sentiment. There are lower chances of reversal in the market events as the volatility is declining.
The area between the upper and lower ends of the Bollinger bands indicator determines the volatility. As this area is narrowing down, this indicates a decrease in the market volatility. The upper limit of the Bollinger bands indicator, acting as the resistance, is situated at $602.4. Whereas, the lower limit of the Bollinger bands indicator, serving as the support, is present at $477.8.
The Relative Strength Index (RSI) indicator is hovering within the neutral region. Its current value is 54.13 and still moving downwards; this indicates a bearish trend. Moreover, the steep slope on the RSI graph signifies continual descent and therefore a negative market sentiment. The current scenario confirms an imbalanced trading environment.
BNB price forecast on the 4-hour chart: Cryptocurrency seeks bullish recovery above $564
The four-hour price analysis of Binance Coin confirms an increasing trend for the cryptocurrency. The bulls took over the market in the last four hours, considering the rising buying pressure. The cryptocurrency value has ascended to $564.4 high in the past four hours. The increasing movement indicates that buying activities are going higher as compared to selling activities.
The volatility is on the expanding side as the Bollinger bands continue to widen. This increasing volatility is indicative of a higher market unpredictability. Moreover, the upper side of the Bollinger bands indicator is present at $592.2, confirming the resistance threshold. The lower side of the Bollinger bands indicator is situated at $563.5, determining the support level.
The RSI indicator is present within the neutral region at 41.99. As the RSI continues to grow, this signifies a bullish recovery. Moreover, the increase in the RSI value creates an encouraging scenario for the investors regarding upcoming price increases. If the buying activity gains further intensity, there is a higher chance of further profit for the currency.
BNB technical indicators: Levels and action
Daily simple moving average (SMA)
| Period | Value | Action |
| SMA 3 | $ 577.57 | SELL |
| SMA 5 | $ 577.79 | SELL |
| SMA 10 | $ 581.16 | SELL |
| SMA 21 | $ 570.57 | SELL |
| SMA 50 | $ 570.12 | SELL |
| SMA 100 | $ 587.54 | SELL |
| SMA 200 | $ 515.70 | BUY |
Daily exponential moving average (EMA)
| Period | Value | Action |
| EMA 3 | $ 578.20 | SELL |
| EMA 5 | $ 579.44 | SELL |
| EMA 10 | $ 578.70 | SELL |
| EMA 21 | $ 573.28 | SELL |
| EMA 50 | $ 574.11 | SELL |
| EMA 100 | $ 565.42 | BUY |
| EMA 200 | $ 513.97 | BUY |
What to expect from Binance coin price analysis
Binance Coin price analysis gives out a highly bearish prediction regarding the ongoing market events. Binance Coin value is now at $564.4 following the devaluation during the day. The cryptocurrency has lost up to 1.58% of its value if observed throughout the past 24-hours. Technical indicators favor the bulls; however, the price chart continues to support the bears. This is a discouraging scenario for the investors, as the market continues to face bearish resistance.
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 devalued over the last 24 hours, above the support available at $564.4. The sellers have stepped in to sell the assets recently, however the support floor at that level seems stable, as the buyers have dominated in the past week.
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
- BNB Chain just revealed the recipients of its fellowship program. Grants have been given to Cakepie, DappRadar, Dinero, Ginco, and Stake DAO (listed alphabetically) to encourage their creative projects that grow the blockchain ecosystem. BNB Chain has made a number of significant changes to its grant procedure with its goal of promoting Web3 use worldwide and its vision of assisting developers and businesses in reaching mainstream audiences.
- In the second quarter (Q2) of this year, the Binance Smart Chain (BSC) saw a mixed performance, according to a recent analysis by market information platform Messari. Although BNB, the native token of the network, decreased 5% QoQ, it was comparatively stable. The chain’s Q2 revenue of $48.1 million, which is a measure of all fees collected, fell 28% on a quarter-over-quarter basis.
BNB price predictions for August 2024
In August 2024, Binance coin could reach a maximum price of $602. The average trading price is expected to be $579 for the month, while the lowest it can go, according to the analysis, is $ 531.
| Period | Potential Low | Potential Average | Potential High |
| Binance coin prediction August 2024 | $ 531 | $579 | $602 |
BNB price prediction 2024
According to the Binance coin price prediction, BNB might reach a minimum price of $671.21. The maximum price can reach $781.67, with an average trading price of about $700.56.
| Period | Potential Low | Potential Average | Potential High |
| Binance coin prediction 2024 | $671.21 | $700.56 | $781.67 |
BNB price prediction 2025 – 2030
| Year | Minimum Price | Average Price | Maximum Price |
| 2025 | $1,033 | $1,069 | $1,180 |
| 2026 | $1,510 | $1,553 | $1,786 |
| 2027 | $2,268 | $2,346 | $2,589 |
| 2028 | $3,192 | $3,310 | $3,892 |
| 2029 | $4,538 | $4,670 | $5,578 |
| 2030 | $6,487 | $6,720 | $7,992 |
Binance coin price prediction 2025
Binance coin (BNB) could reach a maximum price of $1,180 in 2025, with an average value of $1,069 and a minimum of $1,033.
Binance coin price prediction 2026
In 2026, BNB may scale to a maximum of $1,786, with an average price of $1,553 and a minimum of $1,510.
Binance coin price prediction 2027
For 2027, BNB could achieve a maximum valuation of $2,589, with an average trading price of $2,346 and a minimum of $2,268.
Binance coin price prediction 2028
In 2028, BNB is projected to have a maximum price of $3,892, an average price of $3,310, and a minimum value of $3,192.
Binance coin price prediction 2029
By 2029, BNB could reach a maximum of $5,578, with an average trading price of $4,670 and a minimum of $4,538.
Binance coin price prediction 2030
In 2030, BNB may attain a maximum valuation of $7,992, with an average price of $6,720 and a minimum of $6,487.
BNB market price prediction: Analysts’ BNB price forecast
| Firm Name | 2024 | 2025 |
| Wallet Investor | $713.69 | $1023 |
| Coincodex | $ 1,022.45 | $ 1,022.45 |
| CoinGecko | $1,292.45 | $1,493.16 |
Cryptopolitan’s BNB price prediction
Our forecast shows that Binance coin will achieve a high price of $781.67 near the end of 2024. In 2025, BNB price will range between $1,033 and $1,180. In 2030, it will range between $6,487 and $7,992, with an average of $6,720. It is important to consider that the predictions are not investment advice. Professional consultation is suggested, or you can carry out your own 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 data of the crypto market. 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 as market sentiment was positive. This remained at an all-time high for BNB 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, which led to a bearish scenario. This took BNB to less than $220 in June and an average price of $250 in December.
- BNB continued to be 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.
- The Binance coin price at the beginning of 2024 was near $300, and it reached $425 at the beginning of March.
- By the end of March, the coin reached $600 in a bull run and peaked at an all-time high of $717.48 on June 6.
- In July 2024, the coin swung wildly from $488 to $605, while at the start of August, BNB is trading near the $570 mark.
