Binance Coin is Trading -6.45% Below Our Price Prediction for Dec 31, 2023

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 up 4.36% today against the US Dollar
• BNB/BTC increased by 6.17% today
• BNB/ETH increased by 7.23% today
• Binance Coin is currently trading 6.45% below our prediction on Dec 31, 2023
• Binance Coin gained 17.78% in the last month and is up 13.00% since 1 year ago

BNB price is expected to rise by 10.78% in the next 5 days according to our Binance Coin price prediction

is trading at $ 275.68 after gaining 4.36% in the last 24 hours. The coin outperformed the cryptocurrency market, as the total crypto market cap increased by 3.79% in the same time period. BNB performed well against BTC today and recorded a 6.17% gain against the world’s largest cryptocurrency.

According to our Binance Coin price prediction, BNB is expected to reach a price of $ 294.68 by Dec 31, 2023. This would represent a 10.78% 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 17.78% in the last 30-days. The medium-term trend for Binance Coin has been bullish, with BNB increasing by 29.32% in the last 3 months. The long-term picture for Binance Coin has been positive, as BNB is currently displaying a 13.00% 1-year price change. On this day last year, BNB was trading at $ 243.97.

Binance Coin reached its all-time high price on May 10, 2021, when the price of BNB peaked at $ 689.33. The current BNB cycle high is $ 386.87, while the cycle low is at $ 185.52. BNB has been displaying low volatility recently – the 1-month volatility of the coin is at 5.77. Binance Coin recorded 17 green days in the last 30 days.

Binance Coin technical analysis for today – Dec 26, 2023

The sentiment in the Binance Coin markets is currently Bullish, and the Fear & Greed index is reading Greed. The most important support levels to watch are $ 263.68, $ 260.18 and $ 258.06, while $ 269.30, $ 271.42 and $ 274.92 are the key resistance levels.

Bullish sentiment for Binance Coin

27 indicators are currently signaling a bullish prediction for Binance Coin, while 3 indicators are showing a bearish forecast. With 90% of indicators favoring a positive prediction. This results in an overall Bullish sentiment for Binance Coin.

Crypto market is currently experiencing Greed

Currently, the Fear & Greed index is at 71 (Greed), which signals that investors have a positive 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.

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 63.79, 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 below the SMA 50 trendline, which is a bearish 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 Bullish. BNB would have to increase by 10.78% to hit our $ 294.68 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.