Price Analysis

Binance Coin (BNB) Gears Up for a Price Recovery; How Long Will It Last?

  • BNB starts forming higher high; bears may lose grip over the coin soon
  • Binance Coin has formed a support level at $14.11; recently broke the bearish trendline
  • Bollinger bands point out a less volatile spell; BNB price is likely to continue the slow uptrend
  • Technicals give a slightly negative outlook; the coin trades just above the Fib retracement level of 78.60%

As the crypto market has started an uplift, the Binance coin has followed suit. The coin from one of the most significant exchange platforms has started a price rebound on a bit mild note on November 25.

Binance Coin Price Prediction

BNB coin, which was above $19 a month ago, is now in a hassle to clear barriers above $15. The coin is likely to continue the slow bull-run, considering the mild positive outlook of the market. After hitting a high above $21 in mid-November, the Binance Coin has traced a steady decline.

Breaking a support level near $20.23, the coin rapidly tumbled below $15, with a drop of 30.46%. After a five-day-long price recovery, the coin has managed to reach above the fib retracement level of 78.60%.

Binance Coin
BNB Price Chart By TradingView

Bollinger bands appear narrow, indicating a lack of volatility at present, while SMA lines are yet to show any positive sign. RSI is at 50, showing a stable phase of the BNB coin. The MACD chart is heading towards the bearish crossover but stands in the bullish zone.

Binance Coin is likely to face resistance at $17.21 and $16.78 if it breaks above $16.52 while its support levels stand at $15.83, $15.4 and $15.14.

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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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