Binance Coin is currently trading at $13.40 and gains steady support from $13.26—9-day daily moving average. The coin has traveled from the high of $18.72 to the lowest at $12.14 in a period of the past 30 days.
The downtrend has been quite noticeable as the coin has lost sturdy support from 49-day and 100-day moving average. Just as the whole crypto market is showing a volatile move, BNB/USD is moving ahead similarly. It was just yesterday when the king of the global crypto market—BTC traded above $7,400 after a long sluggish move below $7,000. Currently, the coin is trading above 23.60% Fib Retracement area.
Binance Coin Price Analysis:
Analyzing the 4-hourly movement of BNB/USD on the exchange of Binance, we see that the coin has drawn a stable yet declining trend throughout the month. The first half of the said timeframe took the coin from trading at $18.7 to bottoming out around $16. While the second half of the month took the coin to hit the bottom of the said duration at $12.14.
The MACD of Binance Coin is running below zero and holds a bullish outlook as the MACD line cuts the signal line from below.
The RSI of the BNB coin is at 49.96 and shows a positive movement as the price moves above the bottom from $12.14 to currently trading at $13.38. Based on the current positive momentum and Binance Coin predictions, the coin might recover and regain $16 price level soon.