Binance Coin price prediction: Binance Coin sets new ATH at $422, prepares to move higher today

Binance Coin Price Prediction

TL;DR Breakdown

  • BNB peaks at $422.
  • Minor support at $410.
  • Next major support at $355.

Today’s Binance Coin price prediction is bullish as the market currently trades just below the $422 all-time high after a slight retest of the previous ATH around $410 as support. Therefore, we expect the Binance Coin market price to continue moving higher over the weekend as it looks to reach the next milestone at $450.

Binance Coin price prediction: Binance Coin sets new ATH at $422, prepares to move higher today 

BNB/USD opened at $418.7 after a strong push higher yesterday resulted in a new all-time high being set at $422.63. Since the overall several-week bullish momentum is still very strong, we expect the Binance Coin price action to continue higher later today and push towards the next target at $450.

Binance Coin price movement in the last 24 hours

BNB/USD moved in a range of $394 – $422, indicating a good amount of volatility. 24-hour trading volume has decreased by 29 percent and totals $4.2 billion. The total market cap stands at $64.6 billion, ranking the cryptocurrency in 3rd place overall.

BNB/USD 4-hour chart – BNB currently attempting to set further highs

On the 4-hour chart, we can see BNB spiking above the previous all-time high around $10 yesterday and peaking at $422. A slight retracement was seen overnight as the market retested the previous all-time high as support. 

Binance Coin price prediction: Binance Coin sets new ATH at $422, prepares to move higher today

BNB/USD 4-hour chart. Source: TradingView

Overall, Binance Coin price action has resumed its bullish momentum over the past weeks, after support was found around $230. BNB/USD spent most of March consolidating in an increasingly tighter range, allowing bulls to slowly enter the market at large volumes after the previous major upswing peaked at $348.

At the end of March, BNB returned above the $300 mark and set a clear higher high, inviting more bulls into the market. From there, the Binance Coin price action continued higher until some resistance was found around the previous all-time high, resulting in a slight retracement.

After finding support around the $320 mark, BNB made another wave higher over the following days and peaked at $414 on the 7th of April. After the new all-time high was set, we saw immediate rejection for further upside as the market quickly spiked lower and retested previous resistance around $355 as support.

From the $355 support, BNB/USD built momentum from which to spike higher again. Yesterday, we saw the market move much higher in a couple of hours until a clear break above the previous ATH was made. Over the last hours, the market saw slight retracement as the Binance Coin price action retested previous local resistance as support. 

Right now, BNB/USD is pushing higher again, and we expect further highs to be seen later today. The next major price milestone is located at $450. Therefore, this is the level to watch over the weekend.

Binance Coin Price Prediction: Conclusion 

Binance Coin price prediction is bullish as we expect further highs set later today. A slight retracement was made overnight to retest the previous all-time high resistance as support. Therefore, the market is most probably ready to move higher later today and push to reach the next milestone price target at $450.

While waiting for BNB/USD to move higher, read our long-term guides on other great altcoins: KIN, EOS, ADA.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Richard Adrian

Richard Adrian

Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience - Cryptopolitan.

Related News

Hot Stories

How to stake Verasity (VRA): What's the 2,500,000,000 reward capacity?
Singapore’s crypto lender Hodlnaut shuts down
How to Stake on Kraken: Earn Up to 23% APY On Your Crypto
Go Around the World with 1xBit and Win Crypto
Bitcoin, Binance Coin, ApeCoin, and Decentraland Daily Price Analyses – 8 August Morning Price Prediction

Follow Us

Industry News

Singapore’s crypto lender Hodlnaut shuts down
Celsius withdraws motion to rehire CFO at $92,000 a month
Crypto.com earns license of operation in South Korea
Elon Musk drags Twitter to court for fraud
Binance CEO Urges To Move Funds From WazirX To Binance