Binance Coin (BNB) Price Prediction for February 19

In the last 24 hours, the price of BNB is attempting to meet buyers’ demand as it surged toward $660, currently flashing 0.54% gain. In recent hours, the price of BNB is attempting to hold bullish momentum after rebounding from the low of $627. Additionally, BNB’s trading volume has surged by 4% in the past 24 hours, reaching $2.04 billion.

Looking at the bigger picture, BNB’s price has been rising for the last few days after facing an intense crash in the starting of February. However, it later triggered a retest of support levels. In the last 24 hours, its market cap has surged by 0.52% to $93.81 billion.

BNB’s Long Liquidation Nears $1.5 Million

BNB’s price has been on an intense bullish rally as it broke above its immediate Fib channels. Though it dropped toward the low of $627, it triggered a solid rebound later. The price is holding buyers’ demand below $660 and it might soon make it a strong support level.

In the past 24 hours, there’s been a lot of trading activity with BNB. According to Coinglass, about $1.61 million worth of BNB trades were settled, and out of that, $1.44 million came from buyers who decided to sell off their long positions. Meanwhile, sellers closed about $168,000 worth of their positions. 

The total number of open trading contracts, known as open interest, has surged to $836 million, which is a 0.8% surge from yesterday. This indicates a rise in demand. However, the funding rate for BNB is now positive, at 0.0173%.

However, the BNB price might continue to struggle in surging upward as the market might turn bearish with more traders choosing to take short positions, hoping the price will decline. The ratio of long to short positions is now 0.7966, showing an increase in short positions. This suggests that more traders, currently 56% of them, believe the price will go down soon.

BNB Price Prediction: Technical Analysis

The price of Binance Coin (BNB) rose steadily and is attempting to stay above $660. Though sellers are strongly defending a surge, the buying domination is on a rise, breaking through each Fib channel despite a recent correction below $630. Currently, BNB is priced at $658.7, with a surge of 0.42% in the last 24 hours. 

The BNB/USDT trading pair is targeting $685 but might face strong rejection, resulting in a retest of $650. However, with the Relative Strength Index (RSI) at 58, just below the overbought region, there could be strong buying demand for BNB. If the price surges above $685, we might see a correction toward $725.

Conversely, if the price rejects $650, we might see a drop toward $624.

BNB Price Prediction: What to Expect Next?

Short-term: According to BlockchainReporter, BNB price might continue to surge toward $685. If the price moves above that level, we might see a trade around $725. On the downside, $624 is the range.   

Long-term: According to the current Binance Coin price prediction on Coincodex, the price of Binance Coin is expected to decrease by -2.57% and reach $639.98 by March 21, 2025. Technical indicators suggest a Bearish sentiment, and the Fear & Greed Index is currently at 44, indicating Fear. Over the last 30 days, Binance Coin has experienced 16/30 (53%) green days with a price volatility of 6.12%. Based on this forecast from Coincodex, it is currently considered a poor time to purchase Binance Coin.

Investment Risks for BNB

Investing in BNB prices can be risky due to market volatility. Investors should:

• Conduct technical and on-chain analysis.
• Assess their financial situation and risk tolerance.
• Consult with financial advisors if necessary.