MarketPredictionPrice Analysis

Binance Coin Price Prediction 2021 — Will BNB Hit 500$ in 2021?

  • Bullish Binance Coin price prediction ranges from $321 to $417.
  • BNB price might also reach $500 this 2021.
  • BNB bearish market price prediction for 2021 is $118.

This Binance Coin Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our BNB price analysis and prediction.

Binance Coin (BNB) is one of the digital assets in the crypto market that does not need much introduction. In the past months, BNB has been performing well in terms of market growth rate and market capitalization. Today, the crypto price has over +597% growth rate since the start of the year, with an estimated market capitalization of almost $40 billion.

Furthermore, Binance has also announced its 13th quarterly BNB burn recently. The platform burned a total number of 2,2253,888 BNB coins, which is equal to $68 million. This event was performed to maintain healthy token circulation and slow down possible inflation rates.

Do you think Binance will be a profitable investment before the year ends and by the year 2021? Let us see in this CoinQuora Binance Coin market analysis and price prediction 2021 article.

Binance Coin Price Analysis 2021

Would the recent development and changes in the BNB’s blockchain help the cryptocurrency price to grow higher? Let’s look into the charts in this BNB price prediction article.

BNB/USDT chart Symmetrical Triangle pattern (Source: TradingView)

In the smaller time frame in the chart below, we can see the Symmetric Triangle pattern. This pattern indicates a period of consolidation that may lead to a price breakout or breakdown.

A breakdown from the lower trendline represents the start of a new bearish trend, while a breakout from the upper trendline shows the start of a new bullish trend.

As shown above, at the beginning of this month, BNB turned its bearish position to bull trend. The high trade volume occurred in that period considered to be one of the contributing factor in the bullish trend of BNB.

BNB/USDT RSI and MACD (Source: TradingView)

Furthermore, the Relative Strength Index (RSI) is at level 54, which means that BNB is neither oversold nor overbought. As a result, traders can still trade with confidence without worrying about any major price reversal.

When it comes to the moving average convergence/divergence (MACD), the MACD stays below the signal indicator. In other words, traders can expect more bearish ahead of the crypto. However, if the crypto begins to show an upward trend sign, it will be a different story.

Let us also look down for the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of BNB.

BNB 30-day SMA and 50-day EMA (Source: TradingView)

Binance Coin is one of the potential cryptocurrencies this year. Since the start of 2021, BNB’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations and corrections right away. Moreover, some crypto experts predict March will be altcoins season.

Binance Coin Price Prediction 2021

Currently, BNB holds 3rd place on CoinGecko. In fact, BNB price reached an all-time high price of $339.94.

Would this market performance be enough for BNB to maintain its bullish position in 2021? Are you excited to know the results? Well, what are we waiting for? Let’s get to the bottom of it in this BNB price prediction 2021.

BNB/USDT Price Chart (Source: TradingView)

In the short-to-mid term scenario for our Binance Coin price prediction 2021, BNB has to break past the retracement level at $417. To do this, it has to establish more support at the Fib level at $358. If not, bears may gain the upper hand and further drag BNB to their territory.

Meanwhile, our long-term BNB price prediction 2021 is bullish. Even more, it has a high possibility of reaching a new all-time high this year. However, that will only happen if it breaks past a number of psychological resistances.

Conclusion

Binance Coin has a bright future ahead in 2021. With ongoing developments happening within the BNB ecosystem, as well as in the overall crypto market, we may see BNB reach new heights.

Even more, the bullish BNB price prediction 2021 is $417. As said above, it may even reach a new ATH if investors have decided that BNB is a good investment in 2021 along with mainstream cryptocurrencies like Bitcoin and Ethereum. Moreover, it has a chance to reach $500 in the latter parts of this year as well.

FAQ

What is Binance Coin?

Binance Coin (BNB) is an exchange-based crypto token created by the cryptocurrency exchange Binance.

How to Buy BNB Tokens?

Users can obtain BNB tokens by purchasing them from cryptocurrency exchanges such as Binance or BitZ.

Will BNB Surpass its Current ATH?

Binance Coin is a good investment in 2021. However, BNB has a high possibility of surpassing its current ATH at about $339.94 this year.

Can BNB coin reach $500?

Yes, it’s very much possible that BNB might reach $500 in the near future as per the current bullish trend.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.


Jay Manila

A dedicated market analyst focused on the highs and lows of the cryptocurrency market. With a background in Business Administration, he tries to unfold his financial perspective to global readers.

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