Binance Coin Price Prediction: BNB/USD breaks through $470, eyeing $500 next

Binance Coin Price Prediction Summary

• Binance Coin opened the daily trading chart at a price of $473.
• After reaching new milestones of around $450, the swing high could not hold intact
• BNB tested an intraday high of $476.

Binance Coin opened the daily trading chart at a price of $473. The exchange coin activated several short green candlesticks and tested an intraday high of $476. Unfortunately, the bulls could not hold the daily high for long and the short-lived buyer volumes subsided. Resulting in a lower correction to $470, which marks the intraday low.

Cryptocurrency heat map. Source: Coin360

Majority of the cryptocurrencies traded in the green zone, with only a meager share of the market recording losses. Bitcoin posted a record 24-hour gain of 4.04%, Ethereum increased by 0.92% and Polkadot became the most improved altcoin with a record gain of 9%.

Binance Coin Price Prediction in the Last 24-hours: 8% gain in trading volume

On the daily Binance Coin price prediction chart, BNB/USD fluctuated between an intraday range of $470.4 – $476.8. The moderate range is a sign of moderate volatility across the 24-hour trading chart. Meanwhile, the exchange token posted an 8% gain in daily trading volume after hitting the $2.6 billion zone. Overall, Binance Coin is ranked at number 3 by market value with a total capitalization of $79.85 billion. 

Binance Coin Price Prediction on the 4-hour Chart: Bullishness between $470 and $475

Binance Coin is trading bullishly on the hourly charts with a recovery uptrend starting from the daily low towards $474. The uptrend is a positive indication that traders can anticipate further upsides across the Binance Coin market.

Binance Coin 4-hour chart. Source: TradingView

For the past several weeks, BNB/USD trading pair underwent rapid bullish momentum and recorded a strong rally between 1st October – 8th October. 

After reaching new milestones of around $450, the swing high could not hold intact and the sellers took control of the market. As a result, a new resistance was formed at $460, which prevented the coin from making any significant upward movements. 

Thereby sending the price of Binance Coin to lower support near $440. BNB/USD was only able to break out of the downward wave as we entered the weekend and set a 2-week high at $476. 

Binance Coin Price Prediction Conclusion

Binance Coin price prediction is showing signs of bullish momentum with high chances of breaking above the $480 region any time soon. The rally will keep going and bring the BNB/USD closer home with the upper target of $500.