Price Analysis

Binance Coin (BNB) Price Analysis: BNB Price Goes Just Below its All-Time-High

  • Binance coin enjoys its All-Time-High at 35.33 USD
  • BNB traces a steady increase in its price since January 2019

Binance Coin has established itself as one of the most trustworthy crypto investment as its prices have rarely disappointed the crypto believers. The crypto coin had its All-Time-High price just a couple of days ago with 35.33 USD.

However, the BNB price was comparatively low in December 2018, which again started garnering traction in January this year. In this year, the coin has only shown a steady rise in its price as we can see in the chart. Though a price drop is indicated on 9th May at 18.97 USD.

Current Statistics:

At 11:41:06 UTC, BNB is trading at 33.54 USD, that is slightly below its All-Time-High price. BNB is ranked at 7th position on Coinmarketcap, while it holds Market Capitalization of 4,740,676,754 USD. Notably, 189,175,490 BNB coins are there in its total supply.

Binance Coin (BNB) Chart

The BNB price has risen to 33.54 USD with a 413.91% increase as its price was at 6.54 USD when the year started. In January, the coin had experienced a resistance ranging between 5 USD to 6 USD. After clearing the resistance, the coin surged notably till it touched 25.09 USD mark. Here, it faced a bit of fluctuation and dropped as low as 18.87 USD. Later, with a sharp rebound, the coin crossed 35.33 USD mark.

It is also estimated that the coin saw such a price spike as Binance, the famous exchange behind the coin unveiled the new look for its margin trading service.

As MACD rises above the signal line in the chart, it clearly indicates a bullish trend. Since 14th May, both lines have not crossed each other, showing that the price trend has not changed since then.

Prediction:

Binance coin is already bullish and it seems, after a small price drop it is likely to hit a higher price mark in the short term. Long term investors can expect remarkable returns from BNB till the end of 2019.

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Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on world's leading digital currencies. She holds graduate degree in journalism.

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