Price Analysis

Binance Coin Price Analysis: BNB Continues With a Bullish Trend

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  • Binance Coin continues to ride the bulls leaving all major coins behind.
  • BNB to soon touch $40.

Binance Coin (BNB) bullish stream overlaps major coins in the cryptomarket. Last year, during the bearish market, as compared with the rest of the coins of the cryptomarket BNB gave positive results to the investors. This year, the coin is touching new heights, and the future looks brighter than ever before.

Yesterday, Binance Coin touched its all-time high, and today also the coin is moving along the same trend. The marketers and analysts believe in the coming few months Binance Coin will touch $40.

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Current Statistics of Binance Coin:

The charts are taken from Trade view, at 08:06:24 for price analysis of BNB are given below:

Binance Coin Price chart

The coin ranks at the 7th position in the cryptomarket. Out of the total 189,175,490 BNB, the current market supply is 141,175,490 BNB. The 24hr volume of Binance Coin is 548,016,049 USD. As on 29th May 2019, at 08:06:27 UTC, Market cap is at 4,675,328,727 USD.

Binance Coin Price Chart

After the bullish trend, bearish divergence was simultaneously signaled. The massive intraday decline was due to the strong selling pressure. However, the market started with the bearish trend has recovered today by 9.8%. The current price of the coin is $34.0034659.

Comparison:

At the beginning of 2019, the price of Binance Coin was $6.19 and now as on 29th May 2019, at 09:11 UTC, the price is at $33.22. The price of the coin has superseded the expectations and has shown 5x development.

Talking about the first week of May, the price of Binance Coin was dealing at $23.77 on 4th May, and now it is at $33.22. The increase in price is noted to be by 40%.

Price Prediction and Conclusion:

Binance Coin price continues to move ahead and creating new high scores. For those who suffered losses in the previous months have the golden opportunity to recover and even make profits.

After a few ups and downs, Binance Coin is running on its beats now. The price has shown commendable improvements and is assumed to continue at the same pace. It will keep managing the same trend and keep it green for the coming months.

By the end of 2019, the coin might hit a score of $40, and in 2020 the price could be around $50.

Binance Coin shows a higher opportunity to grow than any other participant. However, the price recently touched its all-time high can show a regression too. It is highly recommended to diverge the investment to tone down the risk in the cryptocurrency market.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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