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
| Cryptocurrency | Binance coin |
| Token | BNB |
| Price | $562.4 |
| Market Cap | $82,180,990,553 |
| Trading Volume | $1,364,428,631 |
| Circulating Supply | 145,932,499 BNB |
| All-time High | $717.48 June 06, 2024 |
| All-time Low | $0.09611 Oct 19, 2017 |
| 24-hour High | $565.98 |
| 24-hour Low | $558.24 |
Binance coin price prediction: Technical analysis
| Metric | Value |
| Price Prediction | $692.91 |
| Volatility | 6.39% |
| 50-Day SMA | $ 551.01 |
| 14-Day RSI | 49.41 |
| Sentiment | Bullish |
| Fear & Greed Index | 50 (Neutral) |
| Green Days | 18/30 (60%) |
| 200-Day SMA | $ 532.31 |
Binance coin price analysis: BNB devalues to $562.4 amidst bearish run
TL;DR Breakdown
- Binance Coin price analysis confirms a downward trend.
- It faces resistance at the $619.2 mark.
On October 6, 2024, Binance Coin price analysis revealed a downward trend for the cryptocurrency today. Coin value has dropped down to $562.4 low in the past 24-hours. However, the overall market sentiment remains on the positive side, as the cryptocurrency gained up to 0.10% of value. If the selling activity intensifies further, the cryptocurrency may experience further loss.
BNB/USDT price analysis on the daily timeframe
The one-day Binance Coin price analysis revealed a bearish trend for the cryptocurrency. It declined to $562.4 during the day. The bears remained on the leading end in the past few hours. Considering the downward trend, the cryptocurrency value still stands below its moving average limit.
The gap between the Bollinger bands indicates the market volatility. The Bollinger bands are converging, leading to a decline in volatility. Moreover, the upper limit of the Bollinger bands indicator, acting as resistance, is at $619.2. Whereas, the lower limit of the Bollinger bands indicator, serving as support, is at $531.3.
The Relative Strength Index (RSI) indicator is present within the neutral region. Its value is 49.71; however, still moving downward, this signifies bearish control. The downward curve on the RSI graph refers to rising selling activity. Nonetheless, the overall market sentiment remains on the positive side for the day.
BNB price analysis on the 4-hour chart
The four-hour price analysis of Binance Coin revealed a bearish price movement for the currency. It deteriorated to $562.4 amidst the growing pressure. Red candlesticks on the price chart mark a growing selling activity. As the volatility is growing continuously, there is a high chance of reversal in the market trends.
The Bollinger bands are expanding, leading to an increase in volatility. This increase refers to a higher market unpredictability for the upcoming hours. Moreover, the upper Bollinger band is now at $571, securing the resistance spot. Whereby, the lower Bollinger band is present at $539.5, indicating the support levels.
The RSI indicator is present within the neutral region at 53.32. Its value has been receding since the past four hours. This decline in the RSI confirms a bearish market for the day. Despite the earlier increases, currently the bearish momentum is on the rise. The downturn refers to an instability within the market.
BNB technical indicators: Levels and action
Daily simple moving average (SMA)
| Period | Value | Action |
| SMA 3 | $ 564.63 | BUY |
| SMA 5 | $ 574.80 | BUY |
| SMA 10 | $ 583.90 | SELL |
| SMA 21 | $ 572.08 | BUY |
| SMA 50 | $ 551.01 | BUY |
| SMA 100 | $ 550.59 | BUY |
| SMA 200 | $ 532.31 | BUY |
Daily exponential moving average (EMA)
| Period | Value | Action |
| EMA 3 | $ 567.37 | BUY |
| EMA 5 | $ 558.53 | BUY |
| EMA 10 | $ 547.28 | BUY |
| EMA 21 | $ 540.38 | BUY |
| EMA 50 | $ 547.19 | BUY |
| EMA 100 | $ 551.42 | BUY |
| EMA 200 | $ 517.29 | BUY |
What to expect from Binance coin price analysis
Binance Coin price analysis gives out a bearish prediction of the ongoing market events. It dropped to $562.4 in the past 24-hours, as the bearish momentum is rising. Conversely, the overall market sentiment remains positive. Technical indicators are giving out a neutral verdict, however; the price charts are supporting the bears.
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 $531.3. 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.
| Period | Potential Low | Potential Average | Potential High |
| Binance coin prediction October 2024 | $ 530.6 | $575 | $620.6 |
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.
| Period | Potential Low | Potential Average | Potential High |
| 2024 | $657.15 | $687.09 | $744.32 |
BNB price prediction 2025 – 2030
| Year | Minimum Price | Average Price | Maximum Price |
| 2025 | $980.67 | $1,008 | $1,159 |
| 2026 | $1,439 | $1,479 | $1,695 |
| 2027 | $2,096 | $2,170 | $2,536 |
| 2028 | $3,044 | $3,153 | $3,642 |
| 2029 | $4,545 | $4,671 | $5,410 |
| 2030 | $6,534 | $6,721 | $7,847 |
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
| Firm Name | 2024 | 2025 |
| Wallet Investor | $713.69 | $1,023 |
| 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 $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.
