BNB/USD Binance Coin Price Prediction — Rising by Almost 10%: Can Bulls Pump to $25?

  • Denys Serhiichuk
    📈 Price Predictions

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BNB/USD Binance Coin Price Prediction — Rising by Almost 10%: Can Bulls Pump to $25?

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

When almost the whole crypto market was growing, the price of BNB went below $20; however, today, the situation is the opposite.

At the moment, BNB is the leader among the top 10 coins, as its quotes skyrocketed by more than 10% over the last 24 hours.

BNB charts by CoinMarketCap

In terms of the news background, a few reasons can affect BNB’s rate change:

All this should favorably win back the cost of the coin.

Our Binance Coin price forecast has more than justified itself, as the rate has jumped even higher than $20.

BNB/USD chart by TradingView

On the 1-hour chart, BNB shows growth against the stagnation of Bitcoin. However, traders should not expect a quick bull run to $25 as happened a few weeks ago. Before going up, the price should touch the $22.6 mark and only after that can BNB reach $24. The Elliot Triple Combo Wave supports such a scenario.

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BNB/USD chart by TradingView

On the 4-hour time frame, the situation does not differ a lot, as BNB is still under bullish tendencies.

There is a formation of the Inverted Triangle pattern, according to which the coin should be located in the yellow corridor between $23 and $24 till the end of May 19. Such a scenario will come true if the trading volumes remain at high levels.

Binance Coin is trading at $23 at the time of writing.

Cover image via 123rf.com
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About the author

Being a passionate blockchain enthusiast Denys has a vast experience in сryptocurrency market analysis, as well as blockchain related projects. All this is backed up by his working at W12 platform, Platinum Listing & ICO Advisory company, Export.Online and many others.

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