BNB price forecast: BNB could retest $820 before rallying higher

CoinJournal
CoinJournal
BNB+0.21%
BTC+1.85%
SOL+1.46%
XRP+1.45%

Key takeaways

  • Binance’s BNB is down 1% despite other leading cryptocurrencies performing positively.
  • The coin could retest the $820 low before rallying above $900.

BNB stays above $850 as the market looks to recovery

BNB, the native coin of the Binance ecosystem, is down less than 1% in the last 24 hours despite the broader market embarking on a mini recovery. Its poor performance means that BNB is still trading around $250 while BTC, SOL, BCH, and XRP move higher.

The stable price action also comes despite Binance announcing that it has launched its Mexican entity Medá. According to the crypto exchange, Medá is registered as an Electronic Payment Funds Institution. The new entity will also operate as an independent division focused on advancing fintech services for Binance throughout Latin America.

Binance has also committed a $53 million investment in the...

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