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.

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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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Rudy Fares