Although Binance Coin has increased by more than 6% over the last 24 hours, its rate is still far away from the highs of the end of June 2019. The price has almost unchanged since the last week, showing an increase of around 2%.
Regarding the fundamental factors, August was not so ’rich’ of news for Binance Coin. We may point out the following events that might have affected the rate of the exchange token:
Possible listing on Coinbase.
Adding BNB by Samsung Galaxy S10 phone to the list of supported assets.
Probable listing of NPXSXEM/BNB pair on Binance DEX in case of the community support.
The last crucial news related to Binance Coin was the possible adding of BNB on Coinbase. The possibility of placing the token on the most popular exchange in the United States, may not be so far-fetched. During the AMA session, CZ told that Coinbase might add Binance Coin on the platform in the future.
Another event refers to Samsung which added BNB and several stable coins to the list of digital assets supported by its flagship Galaxy S10 phone. Currently, the ability to use a blockchain wallet is available to Galaxy S10 owners only in Canada, Germany, South Korea, Spain, Switzerland, the USA, and the UK.
The last but not least concerns PundiX that plans to expand its trading list by adding the NPXSXEM/BNB pair. However, that would be possible if its receives support of 3,500 votes on the forum of Binance.
Dear Pundians, it’s official. NPXSXEM will be listed on @Binance_DEX at 10:00 am GMT+8 on Aug 20. The trading pair is #NPXSXEM / #BNB. For more details, you can read https://t.co/McHvHOQFpP @binance @cz_binance— Pundi X Labs (@PundiXLabs) August 19, 2019
Experts on BNB Predictions
Even though the rate of BNB is not showing a significant rise compared to its previous bullish waves, most analysts are optimistic in their price predictions. Crypto enthusiast Tommy Mustache believes that in 2020 a powerful wave of new users will flood the Binance exchange, and this will raise BNB to unprecedented highs.
Thanks for the Binance hoodie CZ. Finally got it in the mail this week.— Tommy Mustache (@MustacheTommy) May 4, 2019
BNB token will always be my long term hold and I will only trade on the most trusted exchange which is Binance in my opinion.@cz_binance @binance pic.twitter.com/017G9FSv50
Even Forbes drew attention to the success of Binance and BNB. They noted the recent positive developments in Binance, which caused a grateful reaction from CEO Changpeng Zhao.
BNB Technical Analysis
Over the last 7 days, Binance Coin has almost unchanged, being one of the least fluctuated coins.
7 Day High / Low
30 Day High / Low
$3 486 328 102
$257 013 815
$23,54 USD / $21,17 USD
$31,30 USD / $21,17 USD
BNB/USD Trade Pair
On the 1D chart, BNB is located under bearish tendencies, which is confirmed by the decreasing trading volume.
Regarding the nearest price prediction, Binance Coin is likely to test the support at $20 until the end of September 2019. There are no reasons for growing against the rising rate of Bitcoin.
Our earlier BNB price forecast did not come true, as the price soared below the support level.
Binance Coin is also looking pessimistic against Bitcoin, as the rate keeps going down after every bullish run of the leading cryptocurrency. According to the chart, BNB might have touched the local bottom. The coin can go even deeper, up to the level of 0.002 BTC. However, the rate should not break it, as the RSI indicator is already on the verge of the oversold area. In this regard, Binance Coin might face a slight bounceback followed by a further decline.
The price of BNB is trading at $22.19/0.00212116 BTC at the time of writing.
Although BNB is being traded on Binance and some other exchanges, it is on the 7th place in the global cryptocurrency ranking. The token is actively developed as well as the trading platform in general. However, due to the rising Bitcoin dominance, the coin has become less popular among investors. Regarding the price forecast for September 2019, we might see the rise of BNB in correlation to the US Dollar, but not to BTC.