Binance Coin Hits All-time High: BNB Price Prediction

Binance Coin (BNB) made history as the first major altcoin to reach an all-time high this cycle. It rose sharply BNB has risen to around $712, up 10% in the last 24 hours and 20% this month. What caused this surge? And is this rise expected to continue? We provide you with a BNB price prediction for 2024 and beyond.

As altcoins are on an upward trend, BNB is truly shining. This is the first time since early December 2021 that BNB’s market cap has exceeded $100 billion.

The Bears were dominant last week.

On May 30, the price of BNB dropped to as low as $587. However, current technical indicators show that the outlook for BNB price prediction is bright. The coin’s open interest is rising along with the price, indicating that a further increase would likely lead to a continuation of the current price trend.

BNB’s Fear and Greed Index is currently at a neutral level of 52. Bullish technical indicators, negative volatility, and overall inactivity among whale holders suggest stability ahead for the asset.

Binance Smart Chain transactions have shown a steady upward trend, increasing from approximately 3 to 4 million per day. This steady growth reflects the continued and expanding adoption of blockchain. Daily transactions have maintained strong user engagement throughout the year.

BNB Price Prediction and Ichimoku Kinko Hyo

BNB price is finding strong support at the Ichimoku Kinko Hyo cloud baseline on the daily chart, and according to analysts at FXStreet, it has been above this line for over a month, making it important to keep an eye on this technical indicator.

BNB price has not re-entered the cloud, indicating that selling pressure is easing and price movement is firming. The red baseline is key in BNB’s transition from bullish to bearish. If BNB price falls below this baseline, it could lead to a significant correction.

Moreover, BNB price predictions remain bullish on impulse patterns. The price is below the MA200, indicating an uptrend. Wave oscillators are also showing a bullish trend. Coincodex predicts that the price of BNB will range from $674.96 to $1,024.31 in 2025.

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