Binance Coin is buying and selling at $ 19.four and is exhibiting a constructive intraday transfer
- Binance Coin was trading below the main support of $ 19.4 at the time of this writing, after a gradual collapse in the previous month
- BNB / USD is down over 16% in a week from its trading price of $ 23.37
- The coin is immediately supported by the 50-day MA, while the long-term, i.e. 200-day MA, offers no support
- The intraday appears bullish as the price of BNB coins rises and makes a bullish crossover
Binance Coin, like any other altcoin, was seen descending in the previous month. If we balance the movement of altcoin with that of BTC, we see that the king of cryptos has also fallen below $ 9,000 and appears sluggish for the sixth straight day.
Binance Coin Price Analysis:
TradingView’s BNB / USD chart
A clear look at the BNB / USD price action on the hourly chart shows that the coin was in a continuous downturn until the end of the previous month when it bottomed at $ 17.66. Since then, the price of Binance Coin has been increasing with slight fluctuations.
The 20-day Bollinger Bands have a moderate opening and do not forecast any vulnerable volatility in the coming days as they continue to be supported by the 50-day MA.
The technical indicators show a bullish crossover of the BNB coin as the crypto is showing a positive intraday movement and therefore it crosses the MACD line above the signal line.
The RSI of the coin stands at 55.44 and currently has no trading extremities.