bitcoin
Bitcoin (BITCOIN)
$117,655 -0.05%
ethereum
Ethereum (ETHEREUM)
$3,800 0.91%
binancecoin
BNB (BINANCECOIN)
$791.11 -2.70%
solana
Solana (SOLANA)
$178.65 -1.43%
ripple
XRP (RIPPLE)
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pepe
Pepe (PEPE)
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bonk
Bonk (BONK)
$0.000028 -7.14%
bitcoin
Bitcoin (BITCOIN)
$117,655 -0.05%
ethereum
Ethereum (ETHEREUM)
$3,800 0.91%
binancecoin
BNB (BINANCECOIN)
$791.11 -2.70%
solana
Solana (SOLANA)
$178.65 -1.43%
ripple
XRP (RIPPLE)
$3.12 -0.77%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000013 -1.45%
pepe
Pepe (PEPE)
$0.000011 -0.55%
bonk
Bonk (BONK)
$0.000028 -7.14%
bitcoin
Bitcoin (BITCOIN)
$117,655 -0.05%
ethereum
Ethereum (ETHEREUM)
$3,800 0.91%
binancecoin
BNB (BINANCECOIN)
$791.11 -2.70%
solana
Solana (SOLANA)
$178.65 -1.43%
ripple
XRP (RIPPLE)
$3.12 -0.77%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000013 -1.45%
pepe
Pepe (PEPE)
$0.000011 -0.55%
bonk
Bonk (BONK)
$0.000028 -7.14%
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Binance Coin Price Prediction – Why BNB Could Soon Hit $900

Highlights:

  • Binance Coin is entering a consolidation phase between $861.16 and $816.95
  • BNB could hit $900 if it breaks above $861.16 with strong bullish momentum
  • Institutional adoption and broader market momentum could push BNB

Binance Coin (BNB) has recorded incredible returns recently, making it one of the best performers among the top 100 cryptocurrencies. In the last 30 days, it has gained by 27%, bringing it closer to the $1000 mark. While today Binance Coin is slightly in a correction, it is negligible compared to the record performance that it has recorded in the month. When going to press, Binance Coin was trading at $828.20, down by 3.48% in the day. 

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However, even with the intraday price correction, Binance Coin trading volumes have dropped significantly in the day. They are down by 13.78% to stand at $3.13 billion. This is a bullish indicator for Binance Coin, meaning even the intraday price correction has not triggered holders to sell their BNB. This holder resilience makes it more plausible for a Binance Coin rally to $1000 in the short term. Besides the fact that holders are not selling, a couple of factors support a Binance Coin rally going forward.

Bitcoin Price Action Could Push BNB Higher

One of them is Bitcoin’s price action. Binance Coin, like all other cryptocurrencies, follows in Bitcoin’s price action. While Bitcoin has been consolidating over the last couple of days, the overall momentum remains upwards. Analysts are in consensus that Bitcoin could be headed to over $130k in the short term, and $200k by the end of the year. This would mean that the altcoin market, especially high-value altcoins like Binance Coin, could keep gaining value in the future.

For context, Bitcoin’s recent price surge has pushed it to over $800. This indicates that if the momentum is sustained, Binance Coin could be headed to prices as high as $1000 in the foreseeable future. With a clear regulatory environment recently seen in the US, such a Bitcoin-driven move is achievable.

Regulatory Climate Increasingly Favors Binance Coin

Binance Coin also stands to gain from the fact that Binance has been actively handling legal scrutiny for a while now. A while back, the SEC dismissed cases against CZ Binance, the founder of the Binance Exchange. The company is currently in the process of handling legal scrutiny in Europe. For instance, in France, there are investigations into money laundering between 2019 and 2024.

However, industry analysts are optimistic that clearer regulations will emerge over time, making it easier for Binance to operate in Europe. Such moves continue to entrench Binance’s lead in the cryptocurrency exchange space. Since Binance Coin is the cryptocurrency that drives the entire Binance ecosystem, the odds are that its value will continue going up over time.

BNB Institutional Adoption Is On the Rise

Binance Coin is also increasingly being adopted at the institutional level. Recently, a Nasdaq-led initiative raised $100 million that will be invested in Binance Coin. This indicates that companies now see Binance Coin as a cryptocurrency worth adding to their balance sheets. Not only will this potentially drive the value of Binance Coin higher due to demand, but it could also drive retail FOMO due to the perception of BNB as a high-quality cryptocurrency.

Technical Analysis – Binance Coin In An Intra-Day Consolidation

Binance Coin hit a high of $860 on July 28. However, the price has since corrected. Binance Coin is currently range-bound between the $860 high and $816.95 support. If bulls regain momentum and push Binance Coin through the $860 high, a rally to $900 could follow

BNB
Source: TradingView

On the other hand, if bears take control and push Binance Coin through the $816.95 support, then a correction to $793.43 could follow. Of these two scenarios, a correction to around $793.43 is more likely in the short term.

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