Since March, the price of BNB, previously also known as Binance Coin, has barely fallen below $500, despite the broader crypto market downturn. Following heavy losses from major cryptocurrencies, BNB has shown some impressive resistance to the price drop, supported by strong demand. Related Reading: Vitalik Buterin Withdraws 760 ETH As Market Turmoil Strikes Ethereum Despite this strength, the latest BNB price forecast by CoinCodex still estimates the coin could rise by 25% and reach $650 by October 10, 2024. Meanwhile, investor sentiment is bearish, and the Fear & Greed Index also stands at 33, reflecting that uncertainty in the market. This mixed outlook brings up questions about BNB’s near-term trajectory. While there might be a possibility of growth in the long run, short-term conservatism is required, more so from the recent coin volatility and broader market dynamics. BNB’s Sideways Movement And Strong Demand Since March, BNB has moved within a sideways pattern that posts heavy ups and downs. However, after every fall, BNB has strongly rebounded above $500, meaning that there is strong demand for the coin. For instance, on Sept ..
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