Binance Coin is the native token of the Binance chain. Previously, this coin had been on Ethereum but was removed after Binance Smart Chain’s completion. Today, BSC is one of the fastest networks in the digital asset space, helping traders execute transactions faster and more efficiently. In 2017, when Binance launched BNB, it assured that the token would have a limit of 200 million tokens.

 Thanks to the token limit, scarcity has made BNB valuable despite the continuous market crashes. It’s safe to mention that Binance also periodically burns the tokens. Burning is a common term in the digital asset space, and it means to destroy an asset permanently. Many companies do this to increase the value of tokens per unit, which has worked in numerous instances.

Initially, Binance created BNB for users to benefit from lower transaction fees. So, when users own Binance Coin, they pay less for transaction execution. However, thanks to the growing support for digital assets, things have changed. Also, BNB is the payment means for other Binance platforms, such as BSC and Binance DEX. 

You can also use it to pay for products on various platforms, such as Crypto.com, and hotel reservations on specific platforms. Similarly, you can use BNB to pay for online services or even take out loans. Also, people use BNB to buy other cryptocurrencies, especially on Binance. So, if you have Binance Coin and want to purchase other assets, you can easily use it.

It is safe to state that BNB is still a solid investment for people interested in buying the coin. For one, with BNB, they enjoy lower charges on transactions when trading on Binance. As a trader or investor who hopes to make noticeable profits, essential to maximize your profits by paying lower transaction fees.

BNB recently broke the resistance around $420 and has subsequently surged to $460. Since the price touched $460, the price has corrected somewhat and has confirmed the old $420 resistance as support, retesting the area. Now, the price might initially target the resistance of around $470. If this breaks, the price could continue to rise to the next resistance. This is around $500, which is the goal for BNB.

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In order for the BNB price to rally to the $500 resistance, the price must break the drawn trend line. This had served as resistance in the past since the beginning of the correction and could now cause prices to fall again in the near future. If the BNB price breaks this trendline, we expect the price to rally to $500 without any problems. However, the intermediate goal is $470.

BNB price was bound for a decline as part of an adjustment with the crypto market. Not only did the crypto market fall, but BNB reached a strong resistance. Reaching a resistance often leads to falling prices. However, this descent only went to the next minor support. This movement formed an interesting double top formation. Now, based on the technical formation, the price of BNB could decide today in which direction it will go in the near future. Let's tackle this and see what might happen to BNB prices.

The BNB price has risen to a similar point twice in the past few weeks, which is why a double top formation has formed. In most cases, this formation leads to falling prices, which is why we expect falling prices in the future. The Bulls still have a chance to save themselves at the moment. They would need to hold or recapture the +/- $390 support. BNB price broke the support on a Sunday, so the break should not be considered confirmed just yet. At the weekend, the entire crypto market has a little less volume than usual, which is why breaks in resistance/support are usually not sustainable. Due to this, we should wait a few days until we can clearly see whether the BNB price has lost support or not.

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If BNB price regains support, we would be bullish again and expect prices around $500. This is where the next major resistance is after the price breaks the $420 resistance. However, this development depends largely on the Bitcoin price. If the BNB price respects the double top formation, the price could fall further in the near future. The first target is around $340. If the $340 support breaks, we will expect the price to drop to $260.

The price of the Binance Coin was supposed to drop below $330. However, prices kind of stabilized above that area. But how could things continue in the short term? What levels need to be broken for the Binance Coin price to drop to $200? Let's tackle everything in this Binance coin price prediction article.

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The Binance Coin price was able to find support at the $334 support. At this level, the price was able to bottom even during the crash. Next, the price could rally to $420 to confirm the broken support as resistance. Later, after testing $420, it could head back down towards $330. If we hold this level, we would expect the next move towards $420. If this breaks, we assume that the Binance Coin price could soon be $200.

>> CLICK HERE TO BUY BINANCE COIN <<

The Binance Coin price against Bitcoin was able to rise sharply in 2021, like many other cryptocurrencies. But for a few weeks, the price has been in a sideways phase between the support 0.0075BTC and 0.012BTC. As the price recently confirmed the 0.012BTC resistance, we anticipate that the price could drop to around 0.075BTC in the near future.

Furthermore, it is possible that price has formed a double top formation. If that is the case, the 0.075BTC support would have to break. The target would be around 0.004BTC. For the time being, we see this goal as rather unlikely.

You can purchase bitcoin on the  Binance ,  Coinbase ,  Kraken ,  and  Bitfinex crypto exchanges.

Despite the crypto market crash that happened last week, cryptocurrencies are still on an uptrend. This is true for most tokens, including Binance Coin. Not only is this token rising in value, but it is also approaching its previous all-time high price of $700. Many skeptics believe that the current price-action of Bitcoin indicates a possible down market for the entire crypto market. On the other hand, the cryptocurrency market looks perfectly fine from a fundamental assessment. Can the BNB token boom further and break its previous ATH?

Despite many critics, the Binance Coin has always been on a continuous uptrend. Whenever market crashes happen, most newbies panic and think the market will enter a bearish trend just like what happened post-2017. Jumping into such a conclusion without taking into consideration the technicals will definitely give false alarms.

In figure 1, we can clearly see how the BNB token has always been on an uptrend continuously since the beginning of 2021. Prices were rising only to retrace higher than the previous low. This is what mainly constitutes an uptrend. Whenever prices rise higher than the average uptrend, a retracement is inevitable.

It is very clear that the prices of BNB are increasing steadily. The BNB token looks like it is consolidating around the middle uptrend line in anticipation of reaching the upper trendline. Prices are currently eyeing the ATH level of around $700, and have the perfect formation to continue higher.

The current price of BNB is $620. Reaching the previous ATH of $700 denotes a rise of around 12%, which isn't hard for BNB at all. On the other hand, BNB prices can still adjust a bit lower in tandem with the crypto market before achieving this price target.

In the past 24 hours, the cryptocurrency market seems like it's recovering from its previous crash. The entire crypto market is up by almost 3%, and most of the top 10 cryptos are slightly greenish. The top performers are SHIB, LUNA, and STX gaining respectively 32%, 19%, and 17%. On the other hand, the top losers are ZEC, GALA, and AMP losing respectively -9%, -7%, and -6%.

1- Bitcoin (BTC) : + 1.79 %

2- Ether (ETH) : + 6.65 %

3- Binance Coin (BNB): + 0.66 %

4- Tether (USDT) : 0 %

5- Solana (SOL) : + 2.49 % 

6- Cardano (ADA) : + 1.24 % 

7- Ripple (XRP) : + 3.10 %

8- USD Coin (USDC) : + 0 %

9- Polkadot (DOT): + 4.78 %

10- Dogecoin (DOGE) : + 1.28 %

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The time is finally here! After consolidating for a brief period of time, altcoins were expected to boom and follow Bitcoin's path. Binance recently had much positive news in the media. The rise of NFTs and the increasing market coverage of Binance is helping the company grow both structurally and economically. It is no surprise that its token Binance Coin (BNB) will in turn increase. In fact, its price reverted from its consolidation and is now eyeing its previous all-time high price of USD 700! Should you Buy BNB today and enter this 40% trade setup?

In the past years, cryptocurrencies have always shown a tendency to breach a previous all-time high price. This is especially true for Bitcoin, the leading cryptocurrency by market cap. Since BTC just did that, BNB, which is a big contender in the cryptocurrency market is likely to follow the same step. This is because of the following:

• Strong fundamental towards Binance as a company
• Strong overall technicals in the entire cryptocurrency market
• Bitcoin breaching its ATH
• NFT tech advancements and Binance tapping into this industry

At the current price of USD 500, BNB should reach its previous 700$. This would mean a solid 40% return if traders use this specific trade setup.

In the past 24 hours, the cryptocurrency market is up by more than 5%. BNB specifically is up by 4%, and is looking to boost its prices further. Although the market is up, there will still be room for a probable price correction. This phenomena is always normal after such extensive price increases.

1- Bitcoin (BTC) : + 5.6 %

2- Ether (ETH) : + 8.0 %

3- Binance Coin (BNB): + 4.6 %

4- Cardano (ADA) : + 3.4 % 

5- Tether (USDT) : 0 %

6- Ripple (XRP) : + 5.5%

7- Solana (SOL) : + 11.2 % 

8- Polkadot (DOT): + 8.3 %

9- USD Coin (USDC) : + 0 %

10- Dogecoin (DOGE) : + 4.8 % 

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Rudy Fares