Binance Coin Price - BNB Price Index & Live Chart

Binance Coin (BNB) is the native token of the Binance cryptocurrency exchange, which provides a platform for the trading of various cryptocurrencies. Binance has established itself as the largest cryptocurrency exchange in the world in terms of trading volume, and Binance Coin has therefore built its reputation on this basis.

Binance was founded by Changpeng Zhao, a Chinese developer who had previously worked on high-frequency trading. Although Binance Coin was founded in Zhao’s native China, it has since relocated due to regulatory issues.

Binance Coin has become increasingly popular with traders, so in this article, we will examine some of the issues related to the pricing of Binance Coin.

Binance Coin experienced two major peaks during its life-cycle before 2021, firstly increasing massively in value in the early weeks of 2018, and again elevating in price during July 2019. 

It then soared in price, starting in February 2021, when it broke $100 for the first time, swiftly followed by $300. BNB set a new all-time high close to $700 in May of that year.

While a myriad of factors may impact on the Binance Coin price going forward, there is no doubt that there are two that particularly stand out. Firstly, the Covid health crisis is obviously dominating the economic climate across multiple industries and facets of economic activity. This has resulted in a positive bullish run for cryptocurrencies, and will probably be the case for Binance Coin as well.

Secondly, the economic recovery from the locking down of economies all over the world will obviously be a defining economic issue in the medium term. Binance Coin is well-placed to benefit from this, considering that Binance has established itself as such a powerhouse in the cryptocurrency exchange niche.

Another positive for Binance Coin was the launch of an in-house mining pool for the market’s largest altcoin by market cap, Ether, at Binance. 

Binance Coin Price Technical Analysis: How to Identify Good Entry/Exit Points when Trading

Investing in Binance Coin and other cryptocurrencies often requires technical understanding. The best way to ensure that you have all of the necessary technical information at your fingertips is to engage in technical analysis. This is the most widely used and most diverse aspect of trading.

Technical analysis enables you to generate trading signals, enabling, for example, traders to enter long positions when prices reach a strong support level. Charting patterns in Binance Coin can enable traders to predict what is coming next, and as patterns form, traders can follow them to gauge the future direction of price discovery.

Have a Clear Goal

When trading cryptocurrencies such as Binance Coin, it is important to have a clear goal in mind at all times. There are no specific rules that can be followed to find the best entry and exit points, meaning that you need to use viable techniques in order to make your investment successful.

No trader is able to pinpoint the best entry or exit point alone, so developing a strategy and sticking to it at all times is critical. Remember why you have entered a particular market, and what you were hoping to achieve by doing so. Exit a market gradually over time, and similarly only re-enter markets via the same gradual process.

It is also important to practice proper risk management at all times, in order to ensure the best possible outcome for your trading.

Make Use of Analysis Tools

There are many possible analysis tools available to Binance Coin traders, and one of the most effective is laddering. This approach to trading can help you mitigate some of the risks of investing in a cryptocurrency such as Binance Coin.

It's important to understand that you don't have to enter or exit trades in one fell swoop. In fact, it’s better to enter a position gradually, in order to mitigate the effects of market volatility.

If Binance Coin is falling in price, but you think it will increase in price in the immediate future, entering the position with a series of small trades enables you to do so with diminished risk. Similarly, if you enter a position over time, you lock in profits and avoid the difficult task of nailing the absolute top of the commodity.

Traders can set several price targets, in which they will close a percentage of their position. This is an ideal laddering strategy.

Another important indicator when trading Binance Coin and other cryptocurrencies is volume. Using volume indicators can provide real insight into markets, as sudden increases and decreases in trading volume indicate that the market is about to enter a new position.

Investors can also benefit from charting, thanks to the wealth of excellent information available in stock charts. Price and volume, moving average lines and relative strength index are some of the valuable factors that can be plotted via charting, and this can enable investors to predict whether a market should be considered bullish or bearish.

Fundamental and Sentimental Analysis

Fundamental and sentimental analysis is essentially involved in cryptocurrency investment. The first of these two terms involves evaluating the value of an asset or commodity based on the fundamentals of the project itself. This requires traders and investors to research potential trades in-depth, determining whether the asset is undervalued or overvalued in the market.

By contrast, sentiment analysis requires traders to study market sentiment, in order to understand trading biases and current trends in the market. Both of these methods can provide valuable insight into the future direction of Binance Coin, cryptocurrencies in general, and for that matter other commodities as well.