Binance Coin Price Prediction: BNB Could Make A 26% Upswing To $648

Binance Coin trades at $513 with a bullish bias with a daily trading volume of over $2 billion.
Published by
Binance Coin Price Prediction: BNB Could Make A 26% Upswing To $648

More than $2 billion in daily trading volume makes the Binance Coin (BNB) one of the top cryptos to watch in 2022. However, the current threat is the sustained confinement within the descending parallel channel as some analysts fear that the Binance Coin price might plunge even  further.

Still, BNB bulls remain hopeful that Binance can escape from the bearish chart pattern that might take the BNP price towards $1,000 by the end of 2022.

Advertisement

Binance Coin Price Prepares For A 26% Bullish Rally

At the time of writing, the BNB price hovers in the green around $513.1 as bulls fight to hold on to the $503 support embraced by the middle boundary of the descending channel.

Binance Coin price correction has continued since the token of the largest crypto exchange network lost as much as 12% to fall below the $600 mark on November 26. There have been several attempts at recovery but the BNB/USD price has continuously been rejected by resistance from the upper boundary of the prevailing chart pattern.

Note that as long as Binance remains within the confines of the descending parallel channel, its price is set to go lower.

Therefore, a closure below the immediate resistance at $503 could see the BNB price fall to tag the lower boundary of the channel.

BNB/USD Daily Chart

The decreasing volume and the position of the Moving Average Convergence Divergence (MACD) indicator below the zero line in the negative region accentuate Binance’s bearish thesis. Note that the MACD has sent a call to sell BNB signal on the same daily chart. This happened on January 03 when the 12-day exponential moving average (EMA) crossed below the 26-day EMA adding momentum to the price correction.

However, should Binance Coin turn away from the price correction it could rise to tag the -day Simple Movign Average (SMA) at $532. A clear bullish breakout will be achieved if bulls push the price beyond this level to overcome the $544 resistance embraced by the upper boundary of the prevailing chart pattern.

Beyond this point, BNB could launch a bullish rally tagging the target of the top of the descending channel at $648. This is approximately 26% upswing from the current price.

The appearance of a bullish candlestick and the upward movement of the Relative Strength Index (RSI) away from the oversold region as shown on the daily chart accentuates this bullish outlook.

Advertisement

Share
Nancy Lubale

Nancy is a successful finance, crypto analyst and content writer with many years of writing experience finance and blockchain fields. Nancy has been producing quality content for websites in the cryptocurrency industry including Krptotrends, Forexcrunch, InsideBitcoins and Economywatch. She is a Certified Cryptocurrency Expert (CCE) from Blockchain Council. Her interests are in cryptoasset research and technical analysis, Fintech, Blockchain, DeFi, NFTs and Personal Finance. Follow her on X@NancyOmanga for more insights

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

October Fed Rate Cut Odds Rise After Weak U.S. Labor Data, Bitcoin Surges

U.S. private payrolls unexpectedly fell in September, raising market bets that the Federal Reserve will…

October 1, 2025
  • 24/7 Cryptocurrency News

Hashdex Adds Cardano to Crypto Index Fund as ADA Gains SEC Listing Eligibility

Asset manager Hashdex has officially included Cardano in its Nasdaq Crypto Index U.S. ETF. This…

October 1, 2025
  • Bitcoin News

U.S. Treasury To Ease Tax Rule on Unrealized Bitcoin Gains, Aiding Saylor’s Strategy

The U.S. Treasury and IRS have released an interim guidance, which highlights plans to ease…

October 1, 2025
  • 24/7 Cryptocurrency News

Trump-Backed World Liberty (WLFI) Plans RWA Tokenization Paired with USD1 Stablecoin

Trump Family's World Liberty Financial has unveiled big real-world asset (RWA) tokenization plans on Wednesday,…

October 1, 2025
  • 24/7 Cryptocurrency News

Stripe Eyes U.S. Banking Charter, Pioneers One-Click Stablecoin Issuance for Firms

Fintech giant Stripe has unveiled a suite of tools to enable businesses to tap into…

October 1, 2025
  • 24/7 Cryptocurrency News

Breaking: Metaplanet Expands Treasury With 5,268 BTC Purchase, Climbs to 4th Largest Holder

Metaplanet has expanded its Bitcoin portfolio with another purchase. The Tokyo-listed firm is now the…

October 1, 2025