Binance Coin (BNB) Exhibits a Positive Intraday Growth; Trades at $13.40

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:

BNB Price News
BNB/USD Chart By TradingView

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.

Technical Indicators:

BNB Coin News

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.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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