Binance Coin Price Resumes Rise To $500: Time To Buy BNB?

• Binance Coin Price Rises By 5% To The $490 Level
• More Upside Expected As Bullish Momentum Re-enters The Market
• BNB Expected To Sail Over $500 mark Very Soon and Return To All Time Highs

There is considerable momentum with the Binance Coin price at present. After having almost reached the $500 level on August 23, BNB retreated by around 8% to the $472 mark the day after as some selling pressure hit the market.

However, this bearish momentum appeared to be short lived as the Binance Coin price recovered remarkably well and rose by 5% to the $492 level over the past 24 hours with bulls firmly back in play. Further positive momentum is expected to see BNB increase to the $500 mark very soon after which it should begin to approach the ATH of $650 registered in April.

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Short Term Prediction For Binance Coin Price: More Upside Swing Expected

As positive sentiment in the crypto market continues to increase, the Binance Coin price should appreciate accordingly. Although we have seen considerable FUD over Binance exchanges in several countries with clampdowns of a regulatory nature the order of the day, this seems not to have affected the BNB coin in the least.

In fact, BNB is up by a whopping 80% since its July 20 low of $266 and apart from some slight pullbacks along the way, the ascending trend is still intact. The next real challenge for the Binance Coin price will be the $550 mark where considerable resistance is to be encountered.

If a bullish thesis were to prevail then the Binance Coin price would rise to the $520 level where the first small pockets of resistance should be encountered. That would by an almost 100% reversal from the July 20 low and should prove to be another springboard for the $550 level.

If a bearish thesis were to come into play, BNB would cede at $500 and once again drop by around 10% to the $460 mark. Support at this level should prove to be strong but if a sell off occurs, this price point should be tested. However, the bullish nature of the market should avoid that.

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Long Term Prediction For BNB: Forward Momentum Should Continue To Prevail

The Binance Coin price appears to be in bullish mode like most of the crypto market and a slow but steady price increase is to be expected. It is currently around 25% off the ATH of $650 registered in April and if another bull run occurs, this price point is not too far away.

Analysts are looking at a level between $600 and $900 by the end of the year for BNB. With the positive momentum prevailing in the crypto market, this should be quite a realistic prediction.

Where to Buy Binance Coin

If you want to purchase BNB, you can do so on the following exchanges:
• eToro
eToro is one of the trusted exchange platforms in the crypto space. eToro supports copy trading, which allows new traders to learn from market experts. eToro also charges low trading fees and commissions.

• Binance
The other platform where you can buy BNB is Binance. Binance is one of the largest exchange platforms. It supports a wide range of cryptocurrencies and trading pairs. It also offers user-friendly features.

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