Binance Coin turned BNB token; an ERC 20-based utility token, has made huge fame in the last two years. However, its real-life utility and applications have made it among the top-performing cryptocurrencies since its inception.
Bitcoin tumbling to $20,000, ETH falling to $1050; how long could BNB have sustained its $200 level. BNB token is now valued at $34,644,955,135, with 99% of its cryptocurrencies already in circulation.
The falling BTC and ETH prices have now turned the focus of sellers on BNB, which still retained the third-largest cryptocurrency (Keeping stable coins out of this list). You must read BNB price prediction before moving ahead during such a volatile state.
BNB token has taken a huge hit in the last few months. Despite its real-life utility, potential crypto investors are taking no chances. The drop in buying sentiment over the last few weeks has been shocking in nature. $200 could be the last support level to push BNB into positive zones compared to other cryptocurrency tokens.
BNB fell just after one month, as the prices breached the consideration zones developed in the aftermath of subsequent profit booking and buying after coming close to $200 on May 12. BNB has again targeted to breach the $200 level. While there was some movement on June 14 to restrain the falling prices, it miserably failed as buyers have now resorted to selling.
BNB can further collapse to $200, which may be the perfect spot to acquire BNB tokens. The last price trend moving from $220 to $350, was flawed since a huge price hike pushed RSI almost 100% high.
While such price action is not impossible, it cannot be sustained, and just as the indications, BNB is back at $211. RSI has this time dropped below the May 12 levels, with transaction volumes getting stronger.