The Binance Coin price is on a roll on the back of an 18% gain from its July 20 low of 264. The fifth largest cryptocurrency by market cap is up to the $320 level as strong buyer interest has once again entered the market. The resistance level of $300 has been smashed and BNB is well on its way to continuing to the $350 level which is the next point of resistance.
Although there has been massive FUD about Binance of late, especially with regulatory clampdowns in the UK and China, the Binance price seems to have shrugged off all this. In fact, the BNB price has recovered strongly from the July 20 low of $264 and is looking to make a beeline for the $350 level after which the $375 mark would be the next logical level of resistance.
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Short Term Prediction For Binance Coin Price: A Strong Recovery
It looks like the bulls are back in town for the Binance Coin price which is showing a strong recovery. The next level of resistance is at around the $350 mark which should be easily superseded. The next level at $375 is a bit more difficult to overcome but should not be that much of a problem as long as the market remains bullish.
Conversely, a bearish thesis would invalidate all this positive price movement. If BNB starts a retracement from the $320 level, then it could easily drop 10% to the $290 mark with a further drop if selling pressure enters the market. It could be back to the $265 level in no time which is the July 20 low, but at which there is strong support.
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BNB Long Term Forecast: Ready To Retest The $600 levels again?
It seems that the crucial level for Binance Coin price is the $300 mark and once that is superseded, a huge rally is in the offing. BNB could actually go well above the $400 level if buying interest continues to persist.
With the recent announcement that Amazon.com will now be accepting Bitcoin payments, interest in crypto is only expected to continue skyrocketing. While volume levels are still back to around the January ones, the latest bull run should pull investors back to the market.
Predictions for the Binance coin price range from around $500 at the low side to $900 at the high side as at December 2021. This final price much depends on crypto market sentiment which appears to have turned positive again of late.
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