Price Analysis

Binance Coin Marks Moderate Recovery; Hovers Around $16.98

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  • Binance Coin (BNB) price turns green after an agitated yesterday
  • The coin might remain volatile on the intraday market

Binance Coin is reflecting a bullish trend. The price movement in the coin is quite volatile as the day opened with a fall, but later reflected recovery. The current trend has affected not only the Binance Coin but also the entire market. In some currencies, the recovery has been quite impactful, but the rest are still struggling to remain up.

In yesterday’s chart, Binance Coin was seen touching a high at $17.16 and a low at $16.49. The volume marked was at $200,253,301.

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BNB to USD Price Analysis:

Yesterday, Binance Coin started dealing at $16.71 and it fell by 2.19% to $16.34. Further, the recovery in the coin took the price to $17.11. The progression marked was 4.76%. The coin closed the day at $16.9 with an intraday profit of 1.48%. Today, BNB started dealing at $16.9 and it fell to $16.7 by 1%. Further, the currency jumped by 3.23% and the price counter reached $17.3. Binance took another jump and price touched $17.4 from $17.0 by 2.32%.

Binance Coin Price
BNB Chart By TradingView

BNB is slowly moving towards the immediate resistance level at $17.2. If the momentum remains intact, it will breach the next level at $17.5. Here are the resistance and support level chart.

Resistance Level Price Support Level Price
R1 $17.2 S1 $16.53
R2 $17.5 S2 $16.18
R3 $17.8 S3 $15.86

Binance Coin is expected to have a great future. The traders interested in BNB should pick long-term investments; the same would bring the desired result to the traders.

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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