Binance Coin (BNB) Price Prediction for May 15

15 May 2024

in BNB

Reading Time: 2 mins read

Denys Serhiichuk

Has price of Binance Coin (BNB) accumulated enough energy to bounce back?

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The cryptocurrency market is bouncing back, according to CoinStats.

BNB chart by CoinStats

BNB/USD

The price of Binance Coin (BNB) has fallen by 0.38% over the past day.

Image by TradingView

On the hourly chart, the rate of SOL has broken the local resistance level of $571.1. If the daily bar closes above it, the growth may continue to the $590-$600 zone soon.

Image by TradingView

On the bigger time frame, the price has made a false breakout of yesterday’s low. However, the rate of SOL does not have enough strength for a continued bull run.

In this case, sideways trading in the range of $570-$590 is the more likely scenario.

Image by TradingView

From the midterm point of view, the situation is quite similar. As none of the sides has seized the initiative yet, traders may expect ongoing consolidation in the zone of $550-$600 by the end of the month.

BNB is trading at $580 at press time.

About the author

Denys Serhiichuk

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 makes predictions about top coins.

Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.