Binance Coin Rallies Over 20% – $200 Next?

Binance coin is trading bullish after breaking the key $150 level, rallying by more than 20% in recent sessions, and appears to be taking

Arslan Butt•Thursday, February 18, 2021•1 min read

Binance Coin Rallies Over 20% - $200 Next?

Binance coin is trading bullish after breaking the key $150 level, rallying by more than 20% in recent sessions, and appears to be taking out an all-time highs and heading towards the $200 level. At the time of writing, BNB is trading at around $189.

The native currency of the world’s largest crypto exchange, Binance coin’s moves are dictated by the number of traders on the exchange. In a span of a month, it has made over 68% gains, as well as a gain of more than 300% since the beginning of 2021, benefiting from the recent rally in cryptocurrencies overall.

Analysts have forecast further upside for BNB, recommending that traders keep an eye on trading volume and Binance exchange inflows and outflows to gauge price trends in the crypto. However, technical and on-chain factors also point to a possible bearish scenario coming up soon.

BNB is finding support at the $150 level, from where it recently broke out towards record highs. Any dips towards this key level can open the doors for more buyers to get in while further bullishness could drive its price towards $200 in the coming sessions.

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ABOUT THE AUTHOR See More

Arslan Butt

Index & Commodity Analyst

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.