Binance Coin (BNB) Price Analysis
Price Analysis

Trade99’s BNB Price Analysis: Will Binance Coin Get the Better of the Bear Pressure in the Coming Days?

Binance Coin has a slow start to the year but after that took a slow and steady upward trend which lasted till the end of June. After that, with the crypto market taking a bearish turn, the price of BNB coin went on a continual downswing. The YTD price chart shows the price fluctuation for BNB coin in the range of $6.52 – $37.43 indicating that the coin has great potential though the bearish pressure is not letting it utilize the same.

Binance Coin Price Prediction:

BNB coin price had proved a lot in the short period when it was on a continual slow and steady upswing till June. Though the bearish sentiment from July pushed the price of Binance Coin in the downward range, once the market stabilizes, it has the potential to get back to its winning ways. The year began on a low note for the coin, with the price being below the baseline at $6.5278 on January 27. From here, the price went on a steady upward rise and showed a huge jump of 273.48% on April 20 at $24.4689. There was a short hiccup on May 09 when the Binance Coin price fell to the extent of 22.50% at $19.1399. But the good times continued for the coin with it posting a good rally to the tune of 96.06% on June 20 at $37.4363.

BNB/USD Price Chart

The bears had got stronger by then and started exerting pressure on the price of BNB coin, and it went down to $15.3207 on October 06, showing a downward variation of 59.08%. On November 13, the coin managed to rise at $21.1827 to the extent of 38.36%. The current day’s price has again fallen to $15.6627.

Binance Coin is currently reeling under bear pressure, and the current trend is expected to continue for the short-term as the market is still very volatile. Investors should wait for the crypto market to show a stable sentiment and should hold on to their investments from a long-term perspective.

Related posts

Trade99’s BNB Price Analysis: Binance Coin Dramatic Walk Embarks Marginal Loss

Willard Roman

Will Bat Maintain the Bullish Run?

Willard Roman

Trade99’s LTC Price Analysis: Will Litecoin Price Work It’s Way Out of The Bearish Volatility?

Heather Norfleet

Leave a Comment