Binance Coin or BNB, the native cryptocurrency of Binance, current chart analysis indicates a promising price prediction in the near future. BTC, ETH, and other crypto coins continue to show a bearish pattern in the market.
BNB investors are in for a treat as the coin continues to profit and recover from its initial drop in the crypto market. Ever since the crypto crash, many cryptocurrencies including Bitcoin and Ethereum have been struggling to maintain their resistance level but today’s price updates indicate that BNB is slowly recovering from the downward trend, which is quite promising for its existing and incoming investors.
Based on today’s crypto reports, the capitalization is at an extreme low, so the market is also seeing a bearish pattern for the past few weeks. Today, BTC traded between $300, and ETH crashed by $26, but BNB stood out the most among all cryptocurrencies.
BNB chart analysis and predictions
Binance coin or BNB, which dropped to $250 when the crypto market crashed, recovered back to $326 today with a 24-hour low at $321 and high at $336, giving a $13 trading profit. This is quite a big yet stable achievement that became a breath of fresh air for the investors.
Those who bought the coin at the price of $250 or $260 during the crash profited from this high. As a result, the coin has gained the investors’ trust and many people are now interested in putting BNB for long-term investment. One of the biggest reasons might be it belongs to the leading crypto exchange. Binance has been slowly expanding its business all over the world. So, as long as Binance continues to dominate the crypto world, its coin will also perform well and recover from any crashes in the future.
When comparing its price with Bitcoin, BNB is around 0.01073 BTC; a good price compared to other crypto coins.
BTC, ETH, and Altcoin price analysis
Since almost every crypto coin bases its price on BTC. Based on the daily chart analysis, Bitcoin showed a bearish pattern indicating that the market is still in the crash.
For BTC price prediction nothing can be said until the candlestick disappears from the chart. Currently, BTC is at the resistance level of 28,500. So, the BTC price is expected to see a $500 crash or an increase of $600, a total trading volume of $1100. Based on the current trends, BTC will remain in the range of 29,500.
Based on this BTC price, Solana, UniSwap, and KNC are the top three crypto coins with promising trading volumes expected to profit well for the investors against BTC.
Like BTC, Ethereum also experienced a downward trend in its one-day trading of only $13, indicating one of the worst conditions for the crypto market. Based on the daily chart, the coin crashed badly at a bearish engulfing candle, a pattern signaling lower price prediction, at $1870 with a crash at $2046.
According to the chart analysis and predictions, the BNB is performing well but the overall crypto market is still crashing based on the BTC prices. Although this might sound quite alarming for the existing investors, it is also an opportunity for new or interested traders to join the market.
With low prices, small investors will be able to profit well once the market starts to see a bullish pattern. However, it is important to do personal research and take financial advice from professionals before entering the market to ensure that the investment is worth the money.