Binance Coin Price Prediction 2024-2030: Is BNB Ready for the Bull Run?

Key Takeaways

• Binance Coin (BNB) is fluctuating around $587, showing some selling pressure.
• We predict BNB will reach $847 by the end of 2024 due to increasing adoption and demand.
• By 2030, BNB’s price could potentially surge to $7609 with broader acceptance in mainstream finance.

After notable changes in its executive team, Binance has shown resilience and prospects for recovery. The departure of Changpeng Zhao, Binance’s CEO, who was also embroiled in legal challenges, initially caused a decline in the value of Binance Coin (BNB). Despite this initial setback, the cryptocurrency has shown a positive trend. Presently, BNB is trading at $58, reflecting a modest rise of 7.01% in the past month. What next for BNB in 2024? Let’s get into the details.

Overview

Binance Coin Price Prediction: Technical Analysis

Binance Coin Price Analysis: The uptrend resumes as BNB hits a $602.2 high

TL;DR Breakdown

• Binance Coin price analysis confirms an uptrend.
• The coin value has improved up to $602.2.
• Strong support is available on the $563.6 end.

The latest one-day and four-hour Binance Coin price analysis for May 25, 2024, confirms an upturn for the cryptocurrency. Although the earlier proved favorable for the bears as a major downward swing was observed, The bulls seem to be gaining the lead since yesterday, as a strong upward movement has been observed. The coin value has gained sufficient recovery since the last 24 hours because of the continuous bullish activity. Because of the rising buying pressure today, the cryptocurrency value has sought recovery above the $602.2 margin. If the buyers remain consistent, chances of further bullish activity can be observed soon.

BNB price analysis on a daily timeframe: The upward swing resumes as BNB reaches $602.2 aim

The latest one-day Binance Coin price analysis presents a bullish scenario regarding the ongoing market events. The bulls seem to be securing the winning position once again, as the price has been following an upward movement. Because of the bullish return, the buying activity has gained strength once again. The recent upturn has resulted in a spike above $602.2, which has created a positive situation for the investors. The coin value has reached above the Moving Average (MA) curve, which is yet another sign of the bullish trend. Because of the uptrend in the past few weeks, the Moving Average value has significantly improved to $596.7. Currently, the bulls seem to have regained their lead, which can further boost the Moving Average value pertaining to the bullish progression.

BNB/USD 1-day price chart. Source: TradingView

The volatility is expanding as the upper and lower Bollinger bands diverge. The rising volatility is a sign of an approaching downturn. The bears might take the reins in the coming days if the volatility keeps expanding. As the volatility is rising, the upper boundary of the Bollinger bands indicator has reached $616.8, confirming strong resistance. Whereby, the lower Bollinger band is situated at $563.6, indicating steady support for the cryptocurrency. The Relative Strength Index (RSI) indicator confirms the latest shifts in price movements. Because of the rising bullish momentum in the past 24 hours, its overall value has hiked up to an index of 54.75. This is quite an average figure, and if the bullish activity remained continuous, the RSI value might experience further improvement.

BNB price forecast on the 4-hour chart: Upturn results in recovery above $602.2

The recent four-hour Binance Coin price analysis depicts a favorable scenario for cryptocurrency buyers. The bulls seem to have bounced back in the last four hours of the day. In the earlier hours of the day, the price movements remained relatively on the bearish side. However, in the past four hours, the market trend took a bullish shift as signs of an upturn were recorded. Because of the rising buying activity, the cryptocurrency value has hiked up to $602.2 during the past four hours. The Moving Average (MA) value is still below the BNB/USD pair because of the previous downtrend. Overall, market sentiment remained on the bullish side in the earlier weeks. As a result, the Moving Average (MA) value has climbed up to $596.1. If the bullish trend resumes, the moving average value can achieve further recovery as well.

BNB/USD 4-hour price chart. Source: TradingView

The area between the upper and lower Bollinger bands is constantly converging, which is a sign of declining volatility. Because of the decreasing volatility, there is a higher chance of a bullish turn in the near future. The declining volatility has changed the position of the upper and lower boundaries of the Bollinger bands indicator. Currently, the upper limit of the Bollinger bands indicator is set at $620.2, which is a sign of strong resistance. Whereby, the lower limit of the Bollinger bands indicator is projected at $587.3, revealing strong support. The RSI value also confirms a bullish revival in the past few hours, as its overall value has ascended to index 50.87. Once again, this is quite an average figure, and the coming price movements will reveal its new directions.

BNB Technical Indicators: Levels And Action

Daily Simple Moving Average (SMA)

Daily Exponential Moving Average (EMA)

What to expect from Binance Coin price analysis

The latest one-day and four-hour Binance Coin price analysis depicts a highly bullish scenario. The bulls have made considerable progress in the past 24 hours, as the latest upturn has led to a recovery beyond the $602.2 high. If the buying activity remains intense, chances of further recovery seem possible. Similarly, if we talk about the four-hour price analysis, a bullish turn was recorded in the last four hours because of the rising buying pressure. This creates a suitable time period for cryptocurrency investors to take the chance and make their move.

Is BNB a Good Investment?

The Binance Ecosystem has seen significant growth over the years, with the utility of its token extending beyond the exchange, finding use in the DeFi space, NFT marketplaces, and as a staking token on Binance Smart Chain (BSC). The future profitability of BNB hinges on the expansion of the Binance ecosystem, regulatory developments, and further widespread adoption. Binance’s strategy of regularly burning BNB tokens to reduce supply could potentially increase its value, provided demand remains strong. BNB’s role as a key asset in the cryptocurrency space is likely to grow as blockchain technology and cryptocurrencies continue to gain adoption.

Recent News/Opinion on BNB

• Binance Founder and CEO Changpeng Zhao, known as CZ, has been sentenced to four months in prison for violating the Bank Secrecy Act on April 30, 2024. The US Department of Justice sought a three-year sentence, but CZ’s lawyers requested probation. He is free on a $175 million bond.
• The BNB Chain has seen a rise in daily transaction fees and revenue, hitting record levels in 2024. However, this spike coincides with a drop in user activity, raising concerns about sustainability, centralization risks, and potential market manipulation. Despite bullish sentiment around BNB’s price, it is crucial to examine the factors driving these metrics for the ecosystem’s long-term health.

BNB Price Predictions May 2024

The short-term analysis of BNB shows that the coin’s price will keep improving, albeit at a slow pace, in May 2024 as it moves above $590, even though the market sentiment is entirely bullish. The volatility has decreased significantly as the BNB coin is following a zigzag pattern and seems to be moving into a range-bound pattern since it has not been able to break above $632.3 since mid-March. 

Looking at the present trend, it’s essential to trade with caution as a breakout in any direction is possible, but most of the indications seem to be for more upside as the overall price movement pattern is still in that direction, and in a break above, it can reach $719 by May 31.

BNB Price Predictions 2024

The BNB price trajectory in 2024 has been more than appreciable, with Binance Coin attempting to reach $633 on March 13, which was around 10% shy of the all-time high of $690 observed on May 9, 2021. BNB has also performed well year to date, with approximately 75% gains. Even the news of Binance’s CEO’s centenary and his stepping down has not affected the BNB price much; rather, surprisingly, it held well with 47% green days during the past 30 days.

The BNB price prediction for 2024 anticipates that the asset could reach a maximum price of $873.20 by the end of December. We expect an average trading price of $799.53 and a floor price of $769.45.

However, it can be expected that increasing scrutiny by the US watchdog and allegations regarding violations of anti-money laundering, technological advancements, and regulatory changes can affect forecasts, and investors should carry out their own due diligence before investing in BNB. But the world’s largest cryptocurrency exchange is expected to benefit from the emergence of meme coins.

BNB Price Predictions 2025 to 2030

BNB Price Prediction 2025

Looking ahead to 2025, price forecast for Binance Coin Price Prediction suggests that the cryptocurrency could reach a maximum price of $1,300. Experts also propose an average value of $1,106 for BNB. In more conservative market conditions, the asset could still maintain a minimum price of about $1,076.

BNB Price Prediction 2026

With respect to BNB price forecast for 2026, analysts posit that BNB could scale up to a maximum price of $1,840. The market analysis model projects that the asset could still achieve a minimum price of $1,517, and an average price of $1,561 as per Binance Coin price prediction.

BNB Price Prediction 2027

For the 2027 financial year, Binance Coin price prediction infers that BNB may reach a maximum valuation of $2,584. Expected an average trading price of approximately $2,257. The minimum price for the digital asset could be close to $2,016.

BNB Price Prediction 2028

Binance Coin price prediction for 2028, suggests that the ongoing growth of the Binance ecosystem will contribute significantly to BNB’s future price action. Analysts projections foresee a maximum Binance Coin Price Prediction of $3,439, an average price of $3,019, and a minimum trading value of $2,936.

BNB Price Prediction 2029

For the year 2029, Binance Coin Price Prediction shows a sustained upward trajectory for the asset, potentially reaching a maximum price of $5,087. Experts also forecast an average trading price of about $4,386, and a minimum price of $4,235 according to Binance Coin price prediction.

BNB Price Prediction 2030

According to Binance Coin price prediction for 2030, BNB could attain a maximum market valuation of $7,609. In addition, our Binance Coin Price Prediction suggest an average market price of $6,498 and a minimum price of $6,278.

BNB Market Price Prediction: Analysts’ BNB Price Forecast

Cryptopolitan’s Binance Coin Price Forecast

Cryptopolitan’s Binance Coin price prediction for 2024 to 2030 suggests a bullish outlook with some possible downstreams. While the year started with a sort of consolidation for the entire month of January in the $286 to $330 range, the market sentiment started to turn bullish in February, and we expect it to reach $737 by the end of the year.

A majority of experts on the subject are highly bullish, and we at Cryptopolitan expect the coin price to reach $1076 at the minimum in 2025, but the range can go up to $1300, and a year later, in 2026, it can peak at $1840.

BNB Historic Price Sentiment

• Binance Coin (BNB) was launched in July 2017 through an Initial Coin Offering (ICO), with an initial price of around $0.10 according to historical data of crypto market. As a utility token for the Binance cryptocurrency exchange, it offered users reduced trading fees. In late 2017, BNB’s price saw a significant increase, and reached its first major peak in January 2018, hitting approximately $24. However, it experienced a decline following the broader market correction.
• Throughout 2018 and 2019, BNB’s price experienced gradual growth as BNB market kept improving as per thorough research. A key development during this period was the launch of Binance Chain in April 2019, which introduced Binance DEX, a decentralized exchange. This led to BNB reaching new highs, going above $30 in June 2019. Despite the global economic uncertainty due to the COVID-19 pandemic, BNB maintained relative stability and saw an upward trend in 2020. This was partly due to the growing popularity of Binance as an exchange and the expansion of its ecosystem.
• BNB experienced a significant bull run in early 2021, reaching an all-time high above $600 in May 2021. Binance Coin’s price dynamics in 2022 were characterized by volatility and were influenced by a combination of macroeconomic factor and regulatory developments which led to a bearish scenario – that took BNB to less than $220 in June, and an average price of $250 in December.
• BNB continued to be a significant player in the cryptocurrency market in 2023, recovering to about $350 in April, but soon lost momentum, reaching about $205 in October, mostly influenced by the prolonged crypto winter. The bulls got back into the market in late December and BNB climbed back to about $325. In 2024, Binance coin is trading at about $600 and the Binance Coin Price Prediction for the current year is to be between $737 to $847 as the overall sentiment remains bullish.
• The Binance coin record for 2024 shows that the coin has nearly doubled its value since January 1, 2024, as the BNB price was $311 on the first day of the year and is nearing the $600 mark at the moment, often breaking above the said threshold. BNB is among the top performers this year, as it remained extremely bullish until March 13, 2024, in the cypto market and has been sustaining its position since then.