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Binance Coin price prediction: BNB to rise to $31.82

Binance Coin price prediction BNB to rise to
  • Binance coin price prediction expects a rise to $31.82.
  • Strong resistance is found at the $30 mark.
  • Strong support is found at the $27 mark.

The Binance Coin price prediction by Keri Milhan suggests that the price will rise towards the $31.82 mark soon. The cryptocurrency rose towards the $28.8 level on the 24-hour chart.

1-Day Binance Coin price analysis

Binance Coin price prediction: BNB to rise to $31.82 1
Bitcoin price prediction chart by Trading View

At the time of writing, the Binance Coin price was held at the $29.143 mark on the Binance exchange. The cryptocurrency observed an ascending slope on the 5th and the 6th of November. At the day’s lowest, the price was observed at $26.7 around the afternoon on the 5th of November.

What’s next for Binance Coin?

Looking at the idea chart below, we can see that the price has seen a double top pattern between September and October. The double top pattern is a bearish indicator, and the analyst expects the price to fall towards the 2020 trend line that has been sketched below the BNBUSD trajectory.

Binance Coin price chart 2 - 5 November
Binance Coin price prediction chart by Ar Shevelev

The analyst believes that the price will trend upwards after moving towards the ascending trendline. The idea suggests that the altcoin can be bought during Q4 of 2020 and the beginning of 2021. The analyst also placed the important buy zones for the price continuation setup, while the stop-loss orders are to be placed under the ascending trend line for a safe trade. The target for this setup lies at the $40 mark.

What to expect from Binance Coin?

The Trading View analyst MKM expects the cryptocurrency to fall towards the ascending trendline. The price has been supported by this trendline from March 2020.

Binance Coin price chart 3 - 5 November
Binance Coin price prediction chart by MKM

The cryptocurrency is expected to drop towards the ascending support. This shorting opportunity for the cryptocurrency with the take profit at $23.70 as a selling signal appears for the Binance Coin/US Dollar trading pair. The price moved down till the 3rd of November, as anticipated by the crypto analyst; however, on the 5th of November and the 6th of November, the cryptocurrency has returned above the $28 mark.

Binance Coin price prediction: Move to $31.82 ahead?

The chart below shows that BNB is expected to rise towards the $31.82 level by the crypto analyst. The bottom of this trade was held at $25.75, and the trade is a long-entry for the cryptocurrency with the take profit at $31.82.

Binance Coin price chart 4 - 5 November
Binance Coin price prediction chart by Keri Milhan

The analyst sketched a small ascending trendline that the price was expected to follow. The price has recently been trending upwards, with an increase in the blue candles and the trading volume for the BNBUSD pair. The cryptocurrency has already moved past the first three retracement levels, and it is now headed for $29.19.

Binance Coin technical indicator movement

Binance Coin price chart 5 - 5 November
Binance Coin price prediction chart by Trading View

The Relative Strength Index (RSI) closed at 40.81, which is the neutral zone for the cryptocurrency. The Bollinger bands depicted expansion before closing, and now the price tests the midline. The Moving Average Convergence Divergence (MACD) line moved below the signal line while the histogram size appears to be increasing towards the downside. These are the indicators for a bullish bias in the trade.

Taha Farooqui

Taha Farooqui

Taha specializes in copywriting & translating texts. He aims to cover cryptocurrencies & blockchain in both English and local dialects in the Middle Eastern regions. He has helped write, translate, and localize the material related to cryptocurrencies and blockchain.

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