BNB Price Prediction for May :
BNB is the native coin of Binance Chain and is among the top ten most popular cryptocurrencies due to its high market cap. The coin has a strong support system thanks to the Binance exchange, which is why it is trading at a high value of $591.86.
Although it has not been the best performer every day, the BNB coin has also faced some challenges that have caused the price to drop from time to time. Moreover, the coin has failed to achieve its all-time high target of $690 set three years ago.
Despite the surge in price in March, the price has not changed much. Instead, it fell to a low of around $537 at the beginning of the month and is now finally starting to recover.
As the market starts to recover, attention is once again turning to these top cryptocurrencies due to their relative stability and high returns. So far, the price of BNB has fluctuated on a daily basis but has remained above $582 for several consecutive days.
Its Relative Strength Index (RSI) shows a neutral effect, which means that BNB is neither oversold nor overbought. It confirms that the sideways trend that BNB has been showing for a few days is correlated with the sideways trend of other cryptocurrencies. In contrast, the Moving Average Convergence Divergence (MACD) signals the coming of a selling period.
Moving averages indicate the buying nature of the market. Therefore, there may be a small drop in the price, but the price will recover soon. During May, the price is expected to drop to a low of $458.86 and a high of $714. Currently, BNB has a support level of $583.80 and a resistance level of $598.05. If the resistance level is successfully broken, there is a high probability that the coin will rise. Otherwise, a decline may be seen.
