Binance Coin Escalates by 6.44% Overnight; Hurdles Appear above $19
- BNB has been holding a tight grip over the bullish momentum since yesterday; surges steadily above $19
- The coin has started facing hurdles up there following the 6.44% price hike
- Till yesterday 12:00 UTC, Binance coin kept ranging between $17.90 to $18.89
- Technicals are holding a bullish bias while the coin forms a bearish candle
Binance Coin has benefitted to quite an extent in this ongoing bullish spell of the crypto market. In December last year, BNB was struggling to trade above $14, and after a month-long price improvement, BNB is set to target the $20 price mark.
Binance Coin Price Analysis
BNB kickstarted this month on a mild bullish note as it opened at $18. The coin kept consolidating till yesterday between the price ranges of $17.90 and $18.89. The coin saw a robust support level at $17.90 steadily started to recover its loss of valuation with a price jump of 6.44%.
The recently formed bearish candlestick has ushered the coin below the 0% Fib level. At 11:38:17 UTC, Binance Coin is trading at $18.98.
Moving averages are bullish at the moment but are coming closer to trace a possible bearish crossover. MACD is also in the bullish territory with its Signal line on the downside. RSI, on the other hand, is in the overbought zone noting a positive sign.
All in all, all the technical indicators as well as Binance coin projections are pointing out to a sustained price rebound while Bollinger bands are heading towards a volatile zone.