How much is BNB worth?

The current Binance Coin price is $233.3, with a 24-hour trading volume of $315,057,963. BNB is down 4.08% in the past 24 hours. Currently ranked 4th on CoinMarketCap, the real-time market cap is $36,351,132,072. It has a circulating supply of 155,849,789 BNB coins and a maximum circulating supply of 155,849,789 BNB coins. Supply is not available.

Binance Coin Price Analysis: BNB closes at $233.3 as selling pressure persists

TL;DR Segmentation

  • Binance Coin price analysis shows a bearish trend.

  • BNB has resistance at $238.

  • BNB has support at $228.

Analysis of the Binance Coin price on July 10, 2023 shows that the price level continues to fall, with the current value reaching $233.3. The current trend is bearish and is characterized by a sustained price decline since the previous day. As selling pressure intensified, the previous uptrend reversed, triggering a price decline. As a result, a large deficit occurs in the price level and ultimately in present value.

BNB Price Analysis on Daily Timeframe: Bears Tighten Control

According to Binance Coin price analysis, the one-day price chart shows strong negative momentum with falling price levels. The current trend is in favor of the bears, showing their dominance in the market. The price is currently at $233.3, which is very close to the current support level. A brief volatile low near $231 was also observed. The coin has lost 0.63% in value over the past day. Additionally, the moving average (MA) has dropped to $238.5.

The current upper value of the Bollinger Bands is $249.9, which represents resistance, while the lower value is at $228.3, which represents support. As the Bollinger Bands slowly diverge, volatility increases relatively. Due to the downward trend, the Relative Strength Index (RSI) score has dropped to 38, which is in the lower neutral zone.

Binance Coin 4-hour chart price analysis: Latest updates and further technical indicators

As shown on the 4-hour price chart of Binance Coin Price Analysis, bears continue to work hard to push the price levels lower. There is clear selling pressure in the market, leading to the current price of $233.3. The moving average is at $234.7, which is significantly below the SMA 50 curve, which signals a negative trend.

The upper Bollinger Bands limit is currently $237.1 and the lower limit is $232.8, reflecting declining volatility and Bollinger Bands convergence. The RSI score has also declined due to the downtrend and currently stands at 37, showing a downward curve and indicating selling activity.

What to Expect from Binance Coin Price Analysis

Binance Coin price analysis confirms the continued decline observed today. The recent drop to $233.3 indicates continued bearish momentum. This continued decline has had a significant impact on the coin’s value, as the trend has completely turned to the downside. The $228 support is likely to be tested again in the coming hours. If the bulls fail to hold, expect prices to fall further.

Binance Coin Price Prediction 2023-2032

Cryptopolitan Price Prediction

BNB’s price has dropped a massive 23% following the recent action taken by the U.S. Securities and Exchange Commission (SEC) against Binance.US. Additionally, the Nigerian government has declared Binance an unauthorized entity, claiming that the exchange is not registered or regulated by the country’s SEC. Additionally, Binance’s decision to withdraw from the Dutch market has further dampened optimism in the cryptocurrency space, prompting investors to look for safer investment options.

Despite the challenges, industry analysts remain optimistic about the future of the cryptocurrency market and are expected to recover from these setbacks. BNB, for its part, is expected to regain strength and could reach the $260 milestone in the near future, with a further target of $305.

Here is our BNB price prediction from 2023 to 2032.

in conclusion

The Binance Coin ecosystem continues to attract investors to use the platform to explore the opportunities its ecosystem offers, including Defi, crypto markets, and NFTs. The coin has risen rapidly in a short period of time as more and more applications are built on the smart chain. It has multiple use cases, making it etched into the trading experience of multiple traders using the Binance cryptocurrency trading platform.

With Binance Chain’s expertise, users can deploy smart contracts or virtual machines that suit their application’s needs to decide exactly how the blockchain should run. Binance has built one of the most secure trading platforms in the world, and users can enjoy different security features such as KYC, 2FA, and anti-phishing codes to protect themselves from malicious actors. Users can also rest assured that their funds are SAFU on Binance.

Currently, BNB is one of the top five cryptocurrencies by market capitalization. Despite the current market downturn, BNB price predictions are relatively optimistic as the token shows healthy growth behavior and the trading platform continues to grow and accumulate new users. The overall development of the Binance exchange can directly translate into positive growth for the BNB coin.