Binance Coin (BNB) Technical Analysis 2021 for Crypto Traders

Binance, the most popular crypto exchange, is now the biggest crypto exchange ever. With more than 100 types of coins, Binance focuses on high-quality security, strong liquidity, and maximum coin selection. They also have a unique feature called Binance Labs, which employs a team of both Binance employees and experts from outside the industry to conduct thorough tests on coins, platforms, and projects.

Binance Coin is a cryptocurrency that is listed on Binance exchange. The Binance exchange is one of the largest cryptocurrency exchanges in the world.

Binance Coin (BNB) is a digital currency based on Ethereum. Binance Coin was created to create a decentralized exchange for the Binance exchange (which was previously known as Bittrex).. Read more about binance coin price prediction 2030 and let us know what you think.

We utilize historical data, price analysis, RSI, RVOL, and other information about BNB to evaluate the cryptocurrency’s future movement in Technical Analysis of Binance Coin (BNB) for 2021. 

Binance Coin (BNB) is a cryptocurrency that may be used on the Binance cryptocurrency exchange to trade and pay fees. Binance Coin has a variety of applications outside of the Binance market. Binance Coin is intended to help the Binance exchange and its ecosystem run more smoothly. Binance is a decentralized, blockchain-based network ecosystem that is unlike any other.

Current Market Situation for Binance Coin (BNB)

At the time of writing, the BNB price was $428.26, with a 24-hour trading volume of $2,472,958,949, according to CoinMarketCap. BNB, on the other hand, has risen 7.95 percent in the past 24 hours. 

In addition, there are 168,137,036.00 BNB in circulation. BNB is now available for purchase on Binance, Tokocrypto, FTX, CoinTiger, and BitWell. 

Binance Coin (BNB) Technical Analysis 2021 

Binance Coin (BNB) is now ranked fourth on CoinMarketCap. BNB may be pushed to new heights by current construction and improvements. Let’s take a closer look at the BNB technical analysis for 2021. The chart of Binance Coin (BNB) on a daily time period is given below.

Horizontal Channel Pattern in BNB/USDT (Source: Tradingview)

The Horizontal Channel patterns are shown in the graph above. The horizontal channel design resembles a rectangular pattern. It has at least four places of contact. This is because it requires at least two lows and two highs to connect. The buying and selling pressures are balanced, and the price movement is trending sideways.

BNB is now trading in a $428 range. If the price breaks through the trend line, it will fall to the $260 support level. Otherwise, it will hit the $694 resistance level.

RSI for Binance Coin (BNB)

The relative strength index (RSI) of BNB is shown in the chart below. 

The RSI is still at 70.69, as seen in the chart below. This indicates that the price of BNB is overbought. This, on the other hand, demonstrates that dealers may trade with caution.

RVOL Binance Coin (BNB)

The Relative Volume of BNB is shown in the graph below. RVOL is a trading indicator that shows how current trading volume has changed over time when compared to previous trading volume.

In particular, the RVOL of BNB was shown to be weaker in the final week of July. BNB’s RVOL is now below the cutoff line, indicating that it is one of the weaker players in the current trend.

Moving Average for Binance Coin (BNB)

The Moving Average (MA) of BNB is shown in the graph below. As a result, the Moving Average is a component of technical analysis that aids traders in identifying trends.

BNB is now in a bullish trend. The BNB price, on the other hand, is above the 50 MA (short-term) and has a good probability of going higher. Furthermore, the price of BNB is above the 50 MA and the 200 MA (long-term), indicating that it is fully bullish. Furthermore, a Trend reversal is a distinct potential at any moment.

Bitcoin and Binance Coin (BNB) Price Comparison

The price comparison between BNB and BTC is shown in the graph below. 

The trend of the BTC can be seen on the chart, while BNB is moving in lockstep with the trend. This means that when the price of BTC rises or falls, the price of BNB rises or falls as well.

Conclusion

With the continuing improvements and updates to the BNB platform. Furthermore, Binance Coin has a bright future in the cryptocurrency industry. BNB, on the other hand, has the potential to soar to new heights.

In addition, the optimistic BNB price forecast for 2021 is $ 694. However, as previously said, if investors determine that BNB is a solid investment in 2021, it may achieve tremendous heights, perhaps exceeding $700.

FAQ

What exactly is BNB?

Binance Coin (BNB) is a cryptocurrency that may be used on the Binance cryptocurrency exchange to trade and pay fees. 

Where can you get your hands on BNB?

Binance, Tokocrypto, FTX, CoinTiger, and BitWell are just a few of the cryptocurrency exchanges that have BNB listed. 

Will BNB be able to set a new ATH in the near future?

The BNB platform’s continuing improvements and enhancements have a good chance of achieving its ATH shortly.

Disclaimer: The views stated in this graph are entirely those of the author. It should not be construed as investment advice. Before investing, TheNewsCrypto staff advises everyone to conduct their own research.

Binance Coin (BNB) is a cryptocurrency that is a utility token that is used on Binance as a trading fee. Binance Coin is bought with Bitcoin and traded for other altcoins. The project is a part of the Binance cryptocurrency exchange, a platform for crypto trading which lists over 300 cryptocurrencies and tokens. Binance Coin was launched on the 15th of May 2018 and now has a total supply of 135,500,000 coins.. Read more about prediksi bnb coin 2021 and let us know what you think.

Frequently Asked Questions

Is BNB good investment 2021?

BNB is a cryptocurrency that has been in the news recently due to its massive price increase. It is currently worth $8,000 USD per coin and its expected to grow even more.

What will Binance Coin be worth in 2021?

Binance Coin is currently valued at $10.00 USD. It will be worth more in 2021, but it is impossible to predict how much more.

Can Binance coins reach 1000?

I dont know.

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