Binance Coin is one of those cryptocurrencies that made headlines in 2021. In fact, the cryptocurrency has risen by more than 1,400% year-to-date. With a current price of USD 600, BNB is aiming to reach the USD 1,000 price mark. Can this really happen? Should you buy Binance Coin?
Binance Coin Price Prediction – BNB crosses the USD 600 mark
In a previous article, we specifically called out BNB as a good investment, given several factors. Back then, prices were around USD 500 and in consolidation mode. The natural course of action was a breakout of the USD 600 psychological price, in preparation for higher levels. Binance coin is certainly eyeing the USD 1,000 price mark. In fact, this price would give Binance a market capitalization price of around USD 153 Billion, which is a very logical valuation.
The USD 600 cross signals a break in consolidation. Bulls are on the rise and prices are expected to reach higher prices, especially that Binance Coin’s price is going higher while Bitcoin is still in consolidation mode. When Bitcoin goes back to its uptrend, BNB would most certainly explode.
Should you buy Binance Coin today?
Definitely yes. The technicals are already in a buying formation, where prices broke through the upper consolidation price area. In figure 1, we can clearly see a break upwards. Here’s a nice setup to keep in mind for now:
- Buy price: USD 605
- Stop-loss: USD 550
- TP: USD 700 for short-term traders
Keep in mind that BNB’s price can still retrace downwards before continuing on its uptrend. Your entry point would then depend on your risk appetite.
The Crypto Market as a whole
In the past 7 days, most cryptocurrencies are back on track and deep in the greens. The crypto market is up by 23.5% and well above a market cap of 2.1 Trillion. Although Binance Coin is up by more than 18% in the past 7 days, many coins shot way higher like Polygon (MATIC) + 146%, Fantom (FTM) + 136%, WAVES (WAVES) + 66% and Dent (DENT) + 63%. For the rest of the top 10, they all recovered as well. Wish the media reported this also, as they always tend to talk about the crypto crashes:
1- Bitcoin (BTC) : + 8.45 %
2- Ether (ETH) : + 19.51 %
3- Binance Coin (BNB): + 18 %
4- Ripple (XRP) : + 39 %
5- Tether (USDT) : 0 %
6- Cardano (ADA) : + 18 %
7- Dogecoin (DOGE) : + 29 %
8- Polkadot (DOT) : + 16 %
9- Uniswap (UNI) : + 22 %
10- Litecoin (LTC): + 9 %
Stay Ahead, Stay Updated
Shiba Inu Price Prediction: How High can SHIB Price reach by 2030?
Binance Coin BOOMED! What is driving this Token? Can you Still Buy it?
Bitcoin broke a MASSIVE Resistance – Will Bitcoin reach $30,000 soon?
Ripple Price Prediction – How High will XRP reach in 2050?
Bitcoin price is Consolidating! Here’s why this is a good thing
Bitcoin Price Prediction – Will Consolidation 2.0 lead to higher BTC prices?
BNB Price Prediction – Price Will BOOM to $500??
Conservative Cardano Prediction for 2023 – How high can Cardano go?
Ripple (XRP) Price Prediction – XRP Reaching 1$ SOON?
Should You Own THIS ALTCOIN in 2021?
Crypto Millionaire: Buy THESE Cryptos before they BOOM in 2023?
Bitcoin Price Prediction – BTC reaching 50K again! Here’s what to do
Binance Coin (BNB) Crosses $500 and Prepares to Gain 40% further! Buy BNB Today?
Breaking News – Ethereum breaks USD 1,000…Jump on board?
XRP Price increase 100%? This Chart confirms a MASSIVE Breakout soon
Binane Coin Price Analysis: BNB Price Overperforming The Market Last Week
BNB Price Eyeing Up $40 Again
XRP Price is about to BOOM if the crypto market recovers! Buy $XRP?
Binance Coin News Ticker – CryptoTicker
Bitcoin Price Prediction – Can Bitcoin reach USD 100,000 before 2022?
Bitcoin Price Analysis – Establishing well above the USD 14,000 price
You might also like
More from Altcoin
There are rumors that the lawsuit is about to be resolved positively for Ripple. What are the latest updates on …
Can Shiba Inu reach $1 in 2023? What are some conservative predictions for Shiba Inu? Let's analyze, without hype!