Binance Coin (BNB), at the time of writing, was trading at $14.9. Important to note that the intraday movement has marked a fresh weekly high at $15.14 and a continuous uptrend can lead BNB coin to breach the 30-day high soon. All the altcoins of the market including the king of cryptocurrencies are trading impressively since yesterday.
The global crypto market seems to have taken a recovery mode, and if this momentum continues, we can expect a sustainable rally soon. In the past 6 months, BNB coin has recorded the lowest at $11.82 and the highest at $32.33. The coin has enough potential, and sustainable support can help the price to rise and gain imminent long-term support.
Binance Coin Price Analysis
Analyzing the daily BNB/USD movement on Binance, we rightly observe the continual down spree of the coin. There was a steep plunge in the price of BNB coin after it temporarily recorded a peak at $21.90. In the last trading month of the bygone year, BNB has remained more or less stable. The 20-day Bollinger Bands laid do not project high volatility in the upcoming days. The candlesticks of the BNB price trend have been hitting the upper Bollinger Band as it gains support from the 50-day MA. However, the 50-day and 100-day MAs are moving out of the 20-day Bollinger Band range.
The technical indicators laid also confirm the intraday bullish divergence as the Histogram tends to be above the baseline.
While the RSI of BNB is at 57.72 and is seen having an uptrend as the price of the coin is holding a positive momentum.