Yesterday’s price drop appears to be recovering for Binance Coin, as it has gotten to where it was the day before yesterday. The currency fell to $ 8.46 yesterday, and from there the BNB price was able to rise above $ 10.
Meanwhile, Bitcoin was trading above $ 5,000 today, and yesterday’s lowest BTC price was $ 4,575.36. It seems that the entire crypto market is very slowly preparing for the market rally.
BNB / USD price chart
TradingView’s BNB / USD chart
BNB Coin, along with the market, has seen a lot of downward volatility over the past week. On March 12, the currency opened above $ 16 and fell sharply, down 53.60%. Here the coin tested support levels at USD 7.66 with a strong bearish bias.
On the same day, there was an immediate rebound in Binance Coin price, which was above $ 10 before closing. Since then, the currency has stayed above $ 9 until it fell again yesterday. Yesterday’s price drop brought the BNB coin to $ 8.92 and now it has started to consolidate above $ 10.
The coin’s Bollinger Bands have shrunk and are currently experiencing a lack of volatility. Also, the MACD lines will soon be entering the bearish zone with their signal line down. Binance Coin’s RSI is also 53 and shows no extremities.