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Binance Coin Price Prediction: A Decline But Moving Back Up Again?

  • The Binance Coin price has taken a battering with a descent of 25% from the September 6 high of $510.
  • BNB has lost a further 10% over the past 48 hours as the wholesale crypto crash continues to bite
  • A slight recovery may be on the cards as Binance Coin gains around 3% in early trading

The Binance Coin price has taken a huge hit over the past few days with a fall of around 12% from $406 to $343 before recovering to the $355 level overnight. This slight positive reversal may indicate that a recovery may be on the cards although the bullish momentum does seem weak at present.

It seems that the wholesale crypto market crash has created a sense of panic and fear amongst investors who may be seeing their holdings become decimated. Sellers have dominated the market over the past few days although the support level of $350 has held quite well overall.

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Short Term Prediction For Binance Coin Price: A Period Of Consolidation Before The Next Move Upwards?

On first indications, it may seem that the Binance Coin price has stemmed its decline and has begun a small recovery. BNB has declined considerably from its bi-monthly of $510 registered on 6 September where it fell by around 25% to a low of $343 on September 21.

If a bullish thesis were to regain control of the market, the Binance Coin price may advance to the $375 level where it would encounter its first resistance level. If this were to be overcome, then BNB would probably approach the $400 level which would mean an appreciation of around 11% from the current price. There would have to be a considerable shift in market sentiment for this to occur however.

If bears keep their presence felt, the Binance Coin price would probably fall below the $350 level again and probably settle at around the $342 mark. If a sell off continues, BNB would likely take the $330 level which is a price last seen over two months ago. This could be a good bounce point for the Binance Coin price.

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Long Term Prediction For BNB: Still Bullish Overall Although The Recovery May Take Longer

After having suffered a considerable crash over the past two weeks with BNB losing a quarter of its price, the outlook looks rather bleak on a short-term basis. The crypto market is admittedly going through a considerable period of instability at present but that does not mean that the long-term outlook remains bleak.

Analysts are still expecting a parabolic rally in the crypto market to take hold although that will probably take longer to happen. Price levels of between $600 and $900 are being mentioned by the end of the year with something rather close to the first figure being the most likely prediction.

Where to Buy Binance Coin

If you want to purchase BNB, you can do so on the following exchanges:
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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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Gerald Fenech

Gerald Fenech

Freelance journalist and writer with over ten years experience in forex and fintech writing. Specializes in crypto and blockchain