Binance Coin Price Prediction for September 2019: Any Chances to Reach $25?

Libra Coin News
Sun, 09/08/2019 - 06:00
Denys Serhiichuk
Binance Coin is located between $20 and $25. Which level is it going to reach faster in September 2019? 
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Contents

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.

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.

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. 

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (1h)

Change (24h)

7 Day High / Low

30 Day High / Low

Binance Coin

BNB

$3 486 328 102

$22,41

$257 013 815

-2,12%

-3,69%

$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.

BNB/USD chart by TradingView

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. 

BNB/BTC chart by TradingView

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.

Summary

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.

About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and make predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others.