Price Analysis

Binance Coin (BNB) Initiates an Uptrend; Surges by More than 13%

Finmax
  • BNB coin has found support level at $14.01; kick starts the much-awaited rebound spell
  • The coin has corrected down after noting an increase of 13.23%
  • A steady rebound above $20 is must to sustain the bullish uptrend
  • Technicals are yet to give a strong positive sign while the coin caries selling pressure

Binance Coin is notably bullish at the moment considering its price trend over the last couple of days. As the crypto market has started to recover its loss, the coin is pacing up gradually. BNB coin price is currently correcting down after today’s mild surge above $15.86.

Binance Coin Price Prediction

BNB price was above $16 on the daybreak of November 24, with quite a bearish impact in its trend. The coin traced a bearish trendline and closed the day with its price at $15.28. The next day, the Binance Coin continued the decline and bottomed to $14.01. As it found support there, the currency started a notable price recovery and reclaimed the price range above $15 before closing on the day. Today’s price actions of BNB coin has been bullish as the coin climbed up to $15.86 and then corrected down to $15.37 at 09:04:26 UTC.

Finmax BTC
Binance Coin
BNB Chart By TradingView

The short-term SMA line is above the long-term SMA line noting a positive sign at the moment. The Bollinger bands indicate the current volatile phase of the BNB coin while the MACD chart is entering the bearish zone. RSI is just below 50, showing a stable spell.

Binance Coin is likely to see resistance at $15.94, $16.61 and $17.48 and support levels at $14.4, $13.53 and $12.86.

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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