Rally

Shiba Inu

Thought

Divergence

<p>BNB, the native token of Binance Chain, is among the top ten most popular cryptocurrencies because of its high <a href="https://coingape.com/glossary/market-capitalization/" rel="noopener noreferrer nofollow">market cap</a>. The token has a great support system thanks to the <a href="https://coingape.com/blog/binance-exchange-review/" rel="noopener noreferrer nofollow">Binance exchange</a>, which is why it has&nbsp;such&nbsp;a high trading value of $591.86.</p>
<p>Though every day is not the best-performing day, the <a href="https://coingape.com/price/binance-coin/" rel="noopener noreferrer nofollow">BNB token</a> has faced a few challenges, leading to price declines here and there. Moreover, the token has failed to achieve its all-time high target of $690, set three years ago. And despite the March surge, the price&nbsp;hasn’t&nbsp;moved much. Instead, it fell to a low of $517 a few days ago and is finally starting to recover now.</p>
<p>So,&nbsp;what’s&nbsp;coming next for BNB? Let us discuss that in this blog.</p>
<h2 id="bnb-price-prediction-for-may">BNB Price Prediction For May</h2>
<p>As the market has started to recover, the attention has again shifted to these top <a href="https://coingape.com/price/" rel="noopener noreferrer nofollow">cryptocurrencies</a> because of their comparative stability and higher gains. BNB has witnessed daily price fluctuation until now but has maintained its value above $582 for days. Its <a href="https://coingape.com/glossary/rsi-relative-strength-index/" rel="noopener noreferrer nofollow">Relative Strength Index (RSI)</a> indicates a neutral effect, which means BNB is neither oversold nor overbought. It confirms the sideways movement BNB has been displaying for days in correlation with the other&nbsp;crypto’s&nbsp;side movements. In contrast, the <a href="https://coingape.com/glossary/macd-moving-average-convergence-divergnece/" rel="noopener noreferrer nofollow">Moving Average Convergence Divergence (MACD)</a>&nbsp;is signaling&nbsp;a selling period.</p>
<p>The moving <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/" rel="noopener noreferrer nofollow">averages</a> indicate the buying nature of the market. So, a minor price decline might happen, but the price will recover soon. During May, the price&nbsp;is anticipated&nbsp;to fall to a low of $458.86 and a high of $714. For now, BNB has its support levels at $ 583.80 and the resistance level at $ 598.05. If it succeeds in crossing the resistance level, the chances are high that the token will move <a href="https://coingape.com/trending/bnb-update-top-reasons-why-bnb-might-hit-700-soon/" rel="noopener noreferrer nofollow">upwards</a>. Otherwise, a decline might happen.</p>
<h2 id="final-thought">Final Thought</h2>
<p>BNB’s&nbsp;growth&nbsp;didn’t&nbsp;get much restricted despite its legal issues over its ex-CEO <a href="https://coingape.com/trending/3-reasons-why-changpeng-zhao-prison-can-be-3-years-long/" rel="noopener noreferrer nofollow">Changpeng Zhao</a>. However, it also&nbsp;did not&nbsp;get&nbsp;any&nbsp;huge gains over the last few weeks. The token was&nbsp;just&nbsp;moving sideways until recently, and now it has to see how it will move throughout May. Whether it will fall to a low of $458.86 or it will surge to a new high of $714.</p>
<p>Read More <a href="https://coingape.com/trending/can-shiba-inu-price-attain-0-0001-this-month-analysts-predictions-speaks-in-favor/" rel="noopener noreferrer nofollow">Can Shiba Inu Price Attain $0.0001 This Month? Analysts Predictions Speaks In Favor</a></p>
<p>The post <a href="https://coingape.com/trending/wheres-bnb-heading-next-price-rally-or-decline/" rel="noopener noreferrer nofollow">Where’s&nbsp;BNB heading next? Price Rally or Decline</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.</p>

Where’s BNB heading next? Price Rally or Decline

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