This article provides a comprehensive price prediction for Binance Coin （BNB） from 2024 to 2030, analyzing its potential growth, market trends, and factors that could influence its value. It also offers technical analysis and expert opinions on BNB’s future.
Points
- Overview of Binance Coin and its recent performance.
- Price predictions for BNB from 2024 to 2030.
- Analysis of market trends and factors influencing BNB’s value.
- Technical analysis and expert opinions.
Binance Coin Price Prediction 2024-2030: Is BNB Ready for the Bull Run?
Binance Coin （BNB） has shown resilience despite notable changes in its executive team and ongoing legal challenges. After the departure of Changpeng Zhao, Binance’s CEO, BNB initially declined but has since demonstrated a positive trend. What lies ahead for BNB in the remainder of 2024 and beyond?
Overview of Binance Coin
Cryptocurrency: Binance Coin
Token: BNB
Price: $430.3
Market Cap: $59,654,986,703
Trading Volume: $3,963,778,324
Circulating Supply: 140,753,855 BNB
All-time High: $717.48 （June 06, 2024）
All-time Low: $0.09611 （Oct 19, 2017）
24-h High: $527.71
24-h Low: $407.52
Binance Coin Price Prediction: Technical Analysis
The current bearish trend for BNB shows a trading price around $430.3, a decrease of 18.72% from its previous close. Despite this downturn, further declines are expected soon. The overall market sentiment remains negative, with sellers trying to minimize losses.
BNB Price Analysis on the Daily Timeframe
The 1-day Binance Coin price analysis predicts a downward trend. After a prolonged period of descent, the cryptocurrency further crashed below the moving average. Currently trading at $430.3, Binance Coin seeks support above this level. There are high chances of reversal, as the market sentiment is bearish while the volatility is rapidly expanding.
The gap between the Bollinger bands indicates market volatility. Currently, the Bollinger bands are widening, signaling increasing market unpredictability. The upper limit of the Bollinger bands indicator, acting as a resistance band, is $643.4, whereas the lower Bollinger band limit, acting as another resistance band, is $487.4.
Source: TradingView
The Relative Strength Indicator （RSI） is now in the oversold region, indicating high chances of reversal for Binance Coin in the near future. Currently at 21.58 and still moving downwards, this indicates increasing selling activities compared to buying activities. The currency has entered the oversold region, indicating further instability for the cryptocurrency.
BNB Price Forecast on the 4-Hour Chart
The hourly chart for Binance Coin reveals a highly bearish scenario over the observed period. The price has fallen from $440.2 to $430. The persistent downtrend indicates rising selling pressure and a bearish market sentiment. Despite a few bullish strikes, the overall market trends remain bearish, signaling sustained selling activities.
The upper limit of the Bollinger bands indicator is $600.2, serving as the resistance band. However, the lower limit of the Bollinger bands indicator is $440.2, acting as the support level. The bands are expanding rapidly, confirming an increase in market volatility.
Source: TradingView
The RSI indicator is in the oversold region, signaling the highly bearish market sentiment. This declining position refers to the instability of the trading atmosphere. Moreover, the downward movement of the RSI confirms a continuous bearish swing, as the selling activities dominate over the buying activities. This has induced growing confidence among investors regarding future price decreases.
BNB Technical Indicators: Levels and Action
Daily Simple Moving Average （SMA）
Period – Value – Action
SMA 3 – $577.57 – SELL
SMA 5 – $577.79 – SELL
SMA 10 – $581.16 – SELL
SMA 21 – $570.57 – SELL
SMA 50 – $570.12 – SELL
SMA 100 – $587.54 – SELL
SMA 200 – $515.70 – BUY
Daily Exponential Moving Average （EMA）
Period – Value – Action
EMA 3 – $578.20 – SELL
EMA 5 – $579.44 – SELL
EMA 10 – $578.70 – SELL
EMA 21 – $573.28 – SELL
EMA 50 – $574.11 – SELL
EMA 100 – $565.42 – BUY
EMA 200 – $513.97 – BUY
What to Expect from Binance Coin Price Analysis
Binance Coin price analysis reveals that the crypto prices have been declining in accordance with the recently obtained bearish trend. Selling activities have crashed BNB from $487.4 to $430.3, and given the current circumstances, a bearish trend is expected to continue. Technical indicators also favor the bears; however, the price charts continue to support the bears. The price has been reduced to $430.3, yet the downward movement is continuous.
Is BNB a Good Investment?
Considering the recent price moves, purchasing Binance Coin 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 $9,000 in 2030. However, financial choices shouldn’t be made exclusively based on our data.
Why is BNB Down?
BNB’s price has declined by 18.72 percent over the last 24 hours, below the support available at $487.3. The sellers have stepped in to sell the assets, and the support floor at that level seems unstable, as the sellers have remained dominant in the past few hours.
Will BNB Reach $700?
Most crypto analysts, including Wallet Investor and Coincodex, are bullish on BNB. According to Binance Coin price predictions, it is expected that its price will cross the $700 mark by the end of 2024, which would be quite higher than the current Binance Coin price.
Will BNB Reach $2,000?
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. BNB will reach nearly $2,000 by the end of 2026 and surpass this mark at the start of 2027, as per Binance Coin price prediction.
Will BNB Reach $3,000?
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 $3,000 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 $7,000 by 2030.
Recent News/Opinion on BNB
- BNB Chain just revealed the recipients of its fellowship program. Grants have been given to Cakepie, DappRadar, Dinero, Ginco, and Stake DAO （listed alphabetically） to encourage their creative projects that grow the blockchain ecosystem. B
Recent News/Opinion on BNB （continued）
- BNB Chain has made a number of significant changes to its grant procedure with its goal of promoting Web3 use worldwide and its vision of assisting developers and businesses in reaching mainstream audiences.
“🎉 Congrats to our BNB Chain Grants winners: @Cakepiexyz_io, @StakeDAOHQ, @dinero_xyz, @ginco_inc, & @dappradar!
https://twitter.com/BNBCHAIN/status/1818950689323659381
- In the second quarter （Q2） of this year, the Binance Smart Chain （BSC） saw a mixed performance, according to a recent analysis by market information platform Messari. Although BNB, the native token of the network, decreased 5% QoQ, it was comparatively stable. The chain’s Q2 revenue of $48.1 million, which is a measure of all fees collected, fell 28% on a quarter-over-quarter basis.
BNB Price Predictions for August 2024
In August 2024, Binance Coin could reach a maximum price of $602. The average trading price is expected to be $579 for the month, while the lowest it can go, according to the analysis, is $531.
Period – Potential Low – Potential Average – Potential High
August 2024 – $531 – $579 – $602
BNB Price Prediction 2024
According to the Binance Coin price prediction, BNB might reach a minimum price of $671.21. The maximum price can reach $781.67, with an average trading price of about $700.56.
Period – Potential Low – Potential Average – Potential High
2024 – $671.21 – $700.56 – $781.67
BNB Price Prediction 2025 – 2030
Year – Minimum Price – Average Price – Maximum Price
2025 – $1,033 – $1,069 – $1,180
2026 – $1,510 – $1,553 – $1,786
2027 – $2,268 – $2,346 – $2,589
2028 – $3,192 – $3,310 – $3,892
2029 – $4,538 – $4,670 – $5,578
2030 – $6,487 – $6,720 – $7,992
BNB Price Prediction 2025
Binance Coin （BNB） could reach a maximum price of $1,180 in 2025, with an average value of $1,069 and a minimum of $1,033.
BNB Price Prediction 2026
In 2026, BNB may scale to a maximum of $1,786, with an average price of $1,553 and a minimum of $1,510.
BNB Price Prediction 2027
For 2027, BNB could achieve a maximum valuation of $2,589, with an average trading price of $2,346 and a minimum of $2,268.
BNB Price Prediction 2028
In 2028, BNB is projected to have a maximum price of $3,892, an average price of $3,310, and a minimum value of $3,192.
BNB Price Prediction 2029
By 2029, BNB could reach a maximum of $5,578, with an average trading price of $4,670 and a minimum of $4,538.
BNB Price Prediction 2030
In 2030, BNB may attain a maximum valuation of $7,992, with an average price of $6,720 and a minimum of $6,487.
BNB Market Price Prediction: Analysts’ BNB Price Forecast
Firm Name – 2024 – 2025
Wallet Investor – $713.69 – $1023
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 $781.67 near the end of 2024. In 2025, BNB price will range between $1,033 and $1,180. In 2030, it will range between $6,487 and $7,992, with an average of $6,720. It is important to consider that the predictions are not investment advice. Professional consultation is suggested, or you can carry out your own 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 data of the crypto market. As a utility token for the Binance cryptocurrency exchange, it offered users reduced trading fees.
- In late 2017, BNB’s price saw a significant increase, and reached its first major peak in January 2018, hitting approximately $24. However, it experienced a decline following the broader market correction.
BNB price history ⏐ Source: Coinmarketcap
- 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 the $5 level by December. However, BNB reached above $30 in June 2019.
- Despite the global economic uncertainty due to 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 as market sentiment was positive. This remained an all-time high for BNB 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 which led to a bearish scenario – that took BNB to less than $220 in June, and an average price of $250 in December.
- BNB continued to be a significant player in the cryptocurrency market in 2023, recovering to about $350 in April, but soon lost momentum, reaching about $205 in October. In late December, BNB climbed back to about $325.
- Binance Coin price at the start of 2024 was near $300 and it reached $425 at the start of March.
- By the end of March, the coin reached $600 in a bull run and peaked at an all-time high of $717.48 on June 6.
- In July 2024, the coin swung wildly in a range of $488 to $605, while at the start of August, BNB is trading near the $570 mark.