TL:DR Breakdown
- BNB price bullish toward $33
- Recovery from $26 seen over the last seven days
- Resistance level found at $31.9 yesterday
- BNB price prediction closely following Bitcoin bullish activity
BNB price prediction: fighting back to $33 after fall to $26 on the 26th November
BNB price has seen highs of $35 and lows of $26 within the last seven days. As the native coin of the massively popular exchange platform, Binance, BNB is expected to follow the Bitcoin bullish trend appearing today – rising back to $33 before the day is out.
At the time of writing, BNB price is $30.4 and steadily bullish this morning.
Use the oscillator below to see what role BNB might play in your portfolio
BNB price prediction: 1-Day chart
The 1-Day chart vertical yellow trendline shows a steep spike in volatility during the steep drop in price on the 26th of November, 2020. Since this point, BNB volatility has hit a plateau and steadily progressed bullishly into December. Volatility is expected to decline as the bulls aim towards $33 in the coming days, as shown by the chart’s red arrow.
Reaching heights of $35, the BNB price resistance level was found around $35.5 on the 25th of November, 2020. Since this point, the volume has reduced by more than 50 percent, and bullish momentum is seen to be returning.
BNB price prediction: 1-Week chart
Using the 1-Week chart, the bullish market trend is shown clearly – stemming from July into December 2020. Bears took control between September into early November, indicated by the bearish activity volatility ‘speed hump’ shown in the chart. Entering mid-November, the bulls take the reins once again, and volatility goes down. This shows that we are still in the midst of bulls season and should expect further price pumps.
The Bollinger Bands (BBs) further evidence the bullish trend – showing BNB price above the BBs Basis mid-line after July – and dipping momentarily in late August. In September, BNB rocketed beyond the Upper BB but was greeted with an equal bearish ball and chain. Alongside the BBs, the On-Balance-Volume (OBV) shows a dip into early November but a steady increase as we enter December. This additionally evinces a bullish progressive pattern for the coming days.
BNB price prediction conclusion: BNB and beyond – price to steadily sail up to $33 by tomorrow
Now sitting above $30.5 comfortably at just after 09:30 GMT, BNB price is likely to progress in $0.5-$1 milestones in the next two days towards $33. If BNB pumps as the result of diminishing bearish activity, BNB price might see fast progression back towards the $35.5 resistance level.
Volume levels show building bullish tension as of the 2nd of December with expectations to rapidly increase if Bitcoin prices rise toward $20,000 once again.
This BNB price prediction is only as reliable as the facts and charts used above. As BNB price closely follows that of Bitcoin, if BTC prices do not accelerate within the next six hours, BNB may see a slower rise than what is predicted here.
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.
