Why is BNB facing resistance at that $500 level?

[Rruchi man]

I'v been HODLing BNB for a while now, i've always seen BNB as a coin that has the ability to topple Ethereum but since May 10, 2021, BNB has been struggling to surpass the last ATH it set which was $686.31. Since then, it's been difficult for BNB to pass $500.

Why is BNB facing resistance at that $500 level?

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[Bttzed03]

~ Why is BNB facing resistance at that $500 level?

It's a battle of the whales. I wouldn't worry too much about the current price and the resistance because around 168 Billion BNB were burned last week. If you look at the effect every after coin burn, the price should appreciate in the coming weeks especially if BTC continues its bullish trend.

[cryptoaddictchie]

I'v been HODLing BNB for a while now, i've always seen BNB as a coin that has the ability to topple Ethereum but since May 10, 2021, BNB has been struggling to surpass the last ATH it set which was $686.31. Since then, it's been difficult for BNB to pass $500.

Why is BNB facing resistance at that $500 level?

This is due to a lot of factors which include fuds. Cz faced a lot of issues and during the time bnb hyped a lot of new projects using bnb ecosystem to fund their scam activity and lots of rug on altcoins. This is also a bad impression on bnb, but I know a heavy resistance could break if there is a tremendous amount of positive sentiment. I know slowly bnb can still attract users inspire of those I've mentioned.

[passwordnow]

The whole market is struggling to get into another high. That's why including BNB, it's not going up further because bitcoin has been dropping. All of the altcoins are very dependent on bitcoin. If bitcoin starts to correct then they'll follow it no matter how high and huge the volume of it.
There will be the significance of it with bitcoin and the alts and that's the same with BNB.

[BayAngelo]

My own opinion is that BNB is owned by a single person whom everyone in social media knows and is a popular person. it makes the token appears as a centralized entity. also there are alternative tokens that offered same quality that bNB offered and it is unfortunate that investors are moving to more decentralized investments like polygon Fantom and avalanche than solana and bNB. i think solana will suffer the same fate.

[blatchcorn]

Alts move with BTC price, as long as BTC is moving up we see alts climbing to new heights. The moment BTC start going down the party is over for alts. Alts dont have the capacity to move on there own. Having said so, I personally don't consider coins like BNB and XRP as cryptocurrency since they are controlled by a single entity and they have the capability to manipulate them, and this is something against the principle of decentralized crypto. 

[zasad@]

BNB is a coin whose price is regulated by manipulators. There are many such coins on the market, but the price of BNB rises when new listings begin on the Binance exchange or new projects in the Binance chain promise good staking bonuses or give out airdrops.
These coins are not worth buying now because the price is unlikely to rise much.

[jrrsparkles]

I'v been HODLing BNB for a while now, i've always seen BNB as a coin that has the ability to topple Ethereum but since May 10, 2021, BNB has been struggling to surpass the last ATH it set which was $686.31. Since then, it's been difficult for BNB to pass $500.

Why is BNB facing resistance at that $500 level?

Its too early for BNB to reach new heights as Bitcoin and ethereum is doing because its literally new and under the development stage since the beginning so its still a good coin to invest for long term and hopefully if Binance manages to hold their reputation longer the prices also will increase a lot from the current price.

[John306]

My opinion is that BNB is owned by a single person whom everyone in social media knows and is a popular person. it makes the token appears as a centralized entity. also there are alternative tokens that offered same quality that bNB offered and it is unfortunate that investors are moving to more decentralized investments like polygon Fantom and avalanche than solana and bNB. i think solana will suffer the same fate.

[jeungo]

The first resistance that comes to mind at the 500 mark is the profit-taking wall of those who make x2, from the 250 mark. This is well within the normal growth curve. I believe that the next serious wall will be at around 700-800. The main question is whether the bull will have time to keep the upward trend on such a price wall.

[Rahman11]

Even more, the bullish BNB price prediction 2021 is $683. As said above, it may even reach a new ATH if investors have decided that BNB is a good investment in 2021 along with mainstream cryptocurrencies like Bitcoin.

[yazher]

It happened with the ETH sometime ago when they cannot rise from over $400 but with the continued development and updates of its developer, it create an intensive hype that reaches even new ATH this past few days. Just give it sometimes its developers have been continuing to improve their platform with developments that have been working and give their users convenience to use their exchange and blockchains. After all, BNB is new and surely it will break the resistance one day and also create new ATH like what we are seeing with the ETH nowadays.

[WalkerIVIV]

This is maybe because a lot of attention are now currently being focused NFT or meme coins. Even though coin like ETH which is similar to BNB has been performing really well but speaking frankly it’s still having relatively small gain compared to a lot of coins that are focused on either NFT or meme coins but finally BNB has surpassed 500 and it was going even higher than it as BNB already reached more than 600 at this moment.
It seems the demand for gaming platform where you can earn or even meme coin with its highly speculative nature as its quirk is high because it’s hype and at the same time people wanna flip their money to make it big by taking advantage of the speculative nature of these coins and therefore the market for a big coin like BSC become rather stagnant or even stable having a hard time breaking past its most recent ATH. But coin like BNB will eventually gaining its momentum again in the future and it's happening right now. Im still waiting for the next pitstop and this might be around 1k.
This one potentially to be the same like ethereum.