Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.
- Binance Coin is down -5.45% today against the US Dollar
- Binance Coin is currently trading 8.60% below our prediction on Oct 07, 2024
- Binance Coin gained 3.34% in the last month and is up 154.04% since 1 year ago
| Binance Coin price | $ 546.58 |
| Binance Coin prediction | $ 598.05 (8.09%) |
| Sentiment | Bearish |
| Fear & Greed index | 42 (Fear) |
| Key support levels | $ 531.30, $ 514.17, $ 488.36 |
| Key resistance levels | $ 574.25, $ 600.07, $ 617.20 |
BNB price is expected to rise by 8.09% in the next 5 days according to our Binance Coin price prediction
Binance Coin price today is trading at $ 546.58 after losing -5.45% in the last 24 hours. The coin underperformed the cryptocurrency market, as the total crypto market cap decreased by -3.62% in the same time period. BNB performed poorly against BTC today and recorded a -1.36% loss against the world’s largest cryptocurrency.
According to our Binance Coin price prediction, BNB is expected to reach a price of $ 598.05 by Oct 07, 2024. This would represent a 8.09% price increase for BNB in the next 5 days.
BNB Price Prediction Chart
Buy/Sell Binance Coin
What has been going on with Binance Coin in the last 30 days
Binance Coin has been displaying a positive trend recently, as the coin gained 3.34% in the last 30-days. The medium-term trend for Binance Coin has been bullish, with BNB increasing by 3.75% in the last 3 months. The long-term picture for Binance Coin has been positive, as BNB is currently displaying a 154.04% 1-year price change. On this day last year, BNB was trading at $ 215.15.
Binance Coin reached its all-time high price on Jun 06, 2024, when the price of BNB peaked at $ 718.88. The current BNB cycle high is $ 616.99, while the cycle low is at $ 406.22. BNB has been displaying low volatility recently – the 1-month volatility of the coin is at 6.34. Binance Coin recorded 18 green days in the last 30 days.
Binance Coin technical analysis for today – Oct 02, 2024
The sentiment in the Binance Coin markets is currently Bearish, and the Fear & Greed index is reading Fear. The most important support levels to watch are $ 531.30, $ 514.17 and $ 488.36, while $ 574.25, $ 600.07 and $ 617.20 are the key resistance levels.
Bearish sentiment for Binance Coin
10 indicators are currently signaling a bullish prediction for Binance Coin, while 20 indicators are showing a bearish forecast. With 67% of indicators favoring a negative prediction. This results in an overall Bearish sentiment for Binance Coin.
Crypto market is currently experiencing Fear
Currently, the Fear & Greed index is at 42 (Fear), which signals that investors have a negative outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.
Binance Coin moving averages & oscillators
Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Binance Coin is positioned in the market right now.
| Period | Daily Simple | Daily Exponential | Weekly Simple | Weekly Exponential |
| MA3 | $ 554.17 (SELL) | $ 567.35 (SELL) | – | – |
| MA5 | $ 566.89 (SELL) | $ 558.87 (SELL) | – | – |
| MA10 | $ 582.20 (SELL) | $ 547.67 (SELL) | – | – |
| MA21 | $ 574.38 (SELL) | $ 540.64 (BUY) | $ 865.47 (SELL) | $ 543.21 (BUY) |
| MA50 | $ 551.94 (SELL) | $ 547.27 (SELL) | $ 685.56 (SELL) | $ 474.10 (BUY) |
| MA100 | $ 550.58 (SELL) | $ 551.45 (SELL) | $ 447.50 (BUY) | $ 405.26 (BUY) |
| MA200 | $ 532.22 (BUY) | $ 517.34 (BUY) | $ 397.09 (BUY) | $ 314.87 (BUY) |
| Period | Value | Action |
| RSI (14) | 43.57 | NEUTRAL |
| Stoch RSI (14) | 8.03 | BUY |
| Stochastic Fast (14) | 42.96 | NEUTRAL |
| Commodity Channel Index (20) | 66.67 | NEUTRAL |
| Average Directional Index (14) | 18.29 | NEUTRAL |
| Awesome Oscillator (5, 34) | 46.74 | NEUTRAL |
| Momentum (10) | -0.79 | SELL |
| MACD (12, 26) | 0.09 | NEUTRAL |
| Williams Percent Range (14) | -57.04 | NEUTRAL |
| Ultimate Oscillator (7, 14, 28) | 41.75 | NEUTRAL |
| VWMA (10) | 596.42 | SELL |
| Hull Moving Average (9) | 600.52 | SELL |
| Ichimoku Cloud B/L (9, 26, 52, 26) | 547.09 | NEUTRAL |
The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Binance Coin is at 43.57, suggesting that BNB is currently neutral.
The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Binance Coin over the last 50 days. Currently, Binance Coin is trading above the SMA 50 trendline, which is a bullish signal.
Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the BNB closing price for the last 200 days. BNB is now trading below the SMA 200, signaling that the market is currently bearish.
The bottom line about this Binance Coin prediction
After considering the above factors, we can conclude that the current forecast for Binance Coin price prediction is Bearish. BNB would have to increase by 8.09% to hit our $ 598.05 target within the next five days. Moving forward, it will be important to monitor the BNB market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Binance Coin price predictions click here.
Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.
Source: https://coincodex.com/article/47808/binance-coin-prediction-october-02-2024/