BNB, BNB could hit $1505.21 in 2024
BNB’s price prediction for the most bearish scenario will value BNB at $473.98 in 2024.
BNB’s previous All Time High was on 10 May 2021 where BNB was priced at $686.31.
BNB’s price at the same time last week was $593.25. It has moved by 5.66 % in the past week and is currently at $592.48. Infact, in the past 24 hours, BNB has pumped by 0.74 %. There is a slight bullish sentiment in the crypto market. The long term sentiment, however, remains bullish and BNB could hit $3189.00 in 2025.
The total circulating supply of BNB as of writing this article was $153,856,150 and the marketcap of BNB remains at $91,226,044,052
BNB price prediction: Key highlights
1. Primary support and resistance levels
In the analysis of the weekly chart, the lowest support level for BNB was $209, while $700 can likely prove to be the highest point of resistance.
2. Market sentiment
The BNB market has been in a strong uptrend, signaling overextended conditions in April 2024.
3. Predictive forecasts
Based on our AI/ML predictive models, the forecasted average price for the year 2028 is projected to be over $1,200, further soaring to over $8,000 in 2035.
Gain in-depth insights on BNB through a comprehensive weekly technical analysis, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models:
BNB technical analysis: Asset stands strong amid a crashing market
BNB's weekly chart revealed a nuanced trajectory of price movements. The Binance Coin price prediction for 2024 presents a bullish outlook. However, its sustainability requires investigation.
2023 saw a tug-of-war between buyers and sellers. The price faced its initial rejection at $349. This rejection precipitated a series of declines. In June, the support level at $304 was breached, resulting in a significant drop to the $234 support level.
Till mid-August, BNB struggled to defend this support. However, an increase in selling pressure propelled the price to its lowest support level at $209. The level acted as a floor against further declines, setting the stage for a subsequent rally initiated by bulls in mid-October.
By November, the price had reclaimed $234 as support. After a temporary breach of this support towards the end of the month, the price resumed its northbound trajectory by mid-December.
In a turnaround, the latter half of December saw BNB's price ascend above $304. The momentum gained more strength in February. This culminated in BNB finally overcoming $349 in mid-February.
Despite the overbought market, BNB bulls showed considerable strength. The asset surpassed most expectations, flying past the psychological $500 mark by March. Thus, a new high resistance was established at $607.
Since April, bearish candles have emerged, bringing the altcoin to trade at $541. While the asset has not shed much of its gains due to the broader crash, the resilience of $530 has been put to the test. BNB's relative stability indicated that it could be the first cryptocurrency to rebound from the current bearish market.
Given this resilience, BNB can likely target the price level at $700. This entails that the price can reclaim its all-time high (ATH) within a few months. Yet, there’s also a possibility that the price can face retraction at this level.
Our predictive models are rather optimistic about BNB's prospects. Looking ahead to 2028, the models anticipate the asset to average around $1,200. Continuing its upward trajectory, BNB is expected to trade at an average price of over $8,000 in 2035.
It’s important to consider bearish possibilities. An increase in selling pressure could trigger a fall below the current support. AMBCrypto’s examination of the liquidation heatmap suggested a potential movement toward the $460-$475 region.
BNB's 2024 roadmap: Key indicators to watch and trade
The trading volume for BNB remained lackluster until May. Still, following a significant price drop in June, a brief recovery in volume was observed. However, this was reversed as the price landed on its lowest support.
As the price began to recover from October, this was mirrored in the volume. It dropped slightly towards the end of January, but this was reversed the next month.
The recent pullback was again mirrored by a downtick in volume. This suggested substantial but cautious investor participation.
The Chaikin Money Flow (CMF) began a downtrend in late April, crossing below the zero line by the end of July. It turned positive again in late October. Thereafter, it fluctuated above and below this neutral threshold until January.
Since then, it has been consistently rising, registering at 0.27 at the time of writing. This highlighted significant buying pressure and inflow of money into the asset.
In the Directional Movement Index (DMI), the +DI line fell below the -DI line in June. By mid-month, the ADX line also surpassed the +DI line, with the -DI remaining dominant until late October.
Subsequently, the +DI line regained its position above the -DI line, and the ADX also moved above the latter in November. Between late January and mid-February, the ADX rose above the +DI, a trend that recurred in mid-March. Notably, the +DI started to descend in late March while the -DI increased.
At the time of writing, the indicators stood as follows: ADX at 53.9066, +DI at 33.5434, and -DI at 8.6577. This could suggest a potential weakening of the current bullish trend.
BNB Price Prediction
BNB has had an eventful 2023. To simplify the latest BNB price prediction, we have divided up the prediction by short term BNB price prediction and long term BNB price prediction. As of writing this article, BNB had a trading volume of 851,214,609. BNB has gone up by 1.37% in the past 30 days.
According to our analysis in the short term, BNB price prediction for July 2024 shows the average price of BNB at 923.20 and the highest possible price for July 2024 would be $987.82.
Further, according to our analysis in the long term, BNB price prediction for November 2024 shows the average price of BNB at 1143.96 and the highest possible price for November 2024 would be $1224.04.
BNB price prediction 10 May 2024: BNB's price for 10 May 2024 according to our analysis should range between $533.37 to $613.66 and the average price of BNB should be around $573.52.
BNB price prediction 11 May 2024: BNB's price for 11 May 2024 according to our analysis should range between $531.61 to $611.63 and the average price of BNB should be around $571.62.
BNB price prediction 16 May 2024: BNB's price for 16 May 2024 according to our analysis should range between $515.26 to $592.83 and the average price of BNB should be around $554.04.
BNB price prediction 21 May 2024: BNB's price for 21 May 2024 according to our analysis should range between $500.05 to $575.33 and the average price of BNB should be around $537.69.
BNB price prediction 31 May 2024: BNB's price for 31 May 2024 according to our analysis should range between $471.03 to $541.93 and the average price of BNB should be around $506.48.
BNB price prediction June 2024: BNB's price for June 2024 according to our analysis should range between $807.24 to $928.77 and the average price of BNB should be around $868.01.
BNB price prediction July 2024: BNB's price for July 2024 according to our analysis should range between $858.57 to $987.82 and the average price of BNB should be around $923.20.
BNB price prediction August 2024: BNB's price for August 2024 according to our analysis should range between $909.90 to $1046.87 and the average price of BNB should be around $978.39.
BNB price prediction September 2024: BNB's price for September 2024 according to our analysis should range between $961.23 to $1105.93 and the average price of BNB should be around $1033.58.
BNB price prediction October 2024: BNB's price for October 2024 according to our analysis should range between $1012.56 to $1164.98 and the average price of BNB should be around $1088.77.
BNB price prediction November 2024: BNB's price for November 2024 according to our analysis should range between $1063.88 to $1224.04 and the average price of BNB should be around $1143.96.
BNB price prediction December 2024: BNB's price for December 2024 according to our analysis should range between $1115.21 to $1283.09 and the average price of BNB should be around $1199.15.
BNB's Long Term Price Prediction
BNB’s long term Price Prediction below is a look at BNB’s future prospect with regards to price. BNB was last seen at $592.48, with a market cap of $91,226,044,052 and trading volumes of $851,214,609. BNB’s price prediction is possible by analyzing historical price action, current developments and social sentiment from the community.
BNB price prediction 2024: BNB's price for 2024 according to our analysis should range between $1003.47 to $1505.21 and the average price of BNB should be around $1254.34.
BNB price prediction 2025: BNB's price for 2025 according to our analysis should range between $2126.00 to $3189.00 and the average price of BNB should be around $2657.50.
BNB price prediction 2026: BNB's price for 2026 according to our analysis should range between $4504.24 to $6756.36 and the average price of BNB should be around $5630.30.
BNB price prediction 2027: BNB's price for 2027 according to our analysis should range between $9542.87 to $14314.31 and the average price of BNB should be around $11928.59.
BNB price prediction 2028: BNB's price for 2028 according to our analysis should range between $20217.94 to $30326.91 and the average price of BNB should be around $25272.43.
BNB price prediction 2029: BNB's price for 2029 according to our analysis should range between $42834.59 to $64251.89 and the average price of BNB should be around $53543.24.
BNB price prediction 2030: BNB's price for 2030 according to our analysis should range between $90751.19 to $136126.79 and the average price of BNB should be around $113438.99.
BNB price prediction 2031: BNB's price for 2031 according to our analysis should range between $192269.34 to $288404.01 and the average price of BNB should be around $240336.68.
BNB price prediction 2032: BNB's price for 2032 according to our analysis should range between $407350.02 to $611025.04 and the average price of BNB should be around $509187.53.
BNB price prediction 2033: BNB's price for 2033 according to our analysis should range between $863029.13 to $1294543.69 and the average price of BNB should be around $1078786.41.
BNB price prediction 2035: BNB's price for 2035 according to our analysis should range between $3873832.79 to $5810749.18 and the average price of BNB should be around $4842290.99.