BNB, formerly known as Binance Coin (BNB), is a digital currency created and distributed by the popular cryptocurrency exchange Binance.
Its utility has led to significant growth and multiple token burn events, boosting its price and ranking it among the top 10 cryptocurrencies by market cap.
This article will cover the , current price, weekly price analysis and prediction for the BnB cryptocurrency.
BNB is up today!
As of 22 April 2024, the price of BNB is $603.05, with a 24-hour trading volume of $1,428,512,230.71. This represents a 3.97% price increase in the last 24 hours and a 4.72% price increase in the past 7 days. With a circulating supply of 150 Million BNB, BNB is valued at a market cap of $92,951,131,692.
Price History
BNB has been on a positive trend for the past week, with a 4.72% increase.
During the last month, the price of BNB has increased by 0.63%, adding a colossal average amount of $3.65 to its current value. This surprising boom approach shows that the coin can grow to be a strong asset now if it keeps growing.
The lowest price ever paid for BNB was $0.03982 on Oct 19, 2017, over 6 years ago. In comparison, the current price is 1,516,089.98% higher than the all-time low.
On the other hand, the highest price ever paid for BNB was $686.31 on May 10, 2021, almost 3 years ago. Presently, the price is 12.33% lower than the all-time high.
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Technicals
The price is trying to break its resistance trendline of the pennant. A breakout would serve as a bullish confirmation. Keep an eye on it.
The asset is currently moving sideways between $0.13 and $0.20, showing uncertainty in the market. Those who swing trade may want to buy at $0.13 and sell at $0.20 for a potential profit of more than 50%.
It’s wise to set a Stop Loss at $0.12 to manage risk. Trend traders should wait for a breakout before entering a position. Even though the RSI is neutral at around 50, the MACD suggests bearish momentum, but the rising MACD Histogram bars hint at a possible upward trend. Support zones are at $0.130 and $0.110, while resistance levels are at $0.200 and $0.250.
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Price Prediction
Crypto enthusiasts reveal their predictions for the BNB price in May 2024. The lowest trading cost could be $604.03, while the highest might skyrocket to $725.61 throughout the month. On an average note, experts anticipate the value of BNB to hover around $664.82. That’s not all there’s a potential ROI of 32.5% to keep an eye on!
Endnote
BNB has been on a significant uptrend lately, indicating positive growth prospects. Currently priced at $603.05, analysts foresee a possible increase by May 2024, with projections varying between $604.03 and $725.61.
This implies an average of approximately $664.82 and a potential ROI of 32.5%. Nevertheless, investors should stay alert and monitor market developments closely.