BNB Price Analysis June 2022

BNB is a coin of the platform Binance. Its current price is around $288.57 by writing, with a low of $216.36, and has a market cap of 47 billion dollars.

What is Binance?

Binance is an online exchange that offers the services to trade cryptocurrencies it supports, with their most common quoted being Bitcoin and Ethereum. In addition, they have a crypto wallet for traders to store their electronic funds and offer support services for the users. Binance’s interface is straightforward, but the sheer number of buying and selling choices can be overwhelming for someone new to this trading platform.

What is BNB?

BNB is the coin of the Binance platform, which is around $288.57 by the time of writing, with a low of $216.36. It reached a high of $669.35 and its current ranking is #5 according to CoinMarketCap, with a market cap of 47 billion dollars. BNB Coin is a cryptocurrency that can be used to pay transaction and trading fees on the Binance exchange.

BNB Coin Market Analysis 

BNB has a max supply of 165,116,760 coins worth around $288.57 with a market volume of 1 billion dollars, whereas the market capitalization is 47 billion dollars at writing. 

BNB Price Prediction

The BNB coin has shown that it can withstand the altcoin market. On the 1D timeframe, the price action of $BNB/USDT has formed an ascending triangle chart pattern. The price is consolidating inside the triangle. We have to wait for a breakout or breakdown to confirm its next move.

Bnb Price Charts Showing Consolidation Within A Triangle Pattern
Consolidation within a Triangle Pattern

For any time, on-demand analysis on $BNB or any other coin can join our Telegram channel.

For on-demand analysis on any token or coin at any time, you can join our Telegram channel.

Closing Thoughts

Discipline and Patience are the most important components of a successful trade. According to the above analysis, the coins we just discussed about might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.

Disclaimer: Our analysis is for educational purposes.

Pratyaksh
Pratyaksh

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