Binance Coin Price Analysis: BNB Coin Moves with a Flattening Trend; Continues to Trade Around $28

  • Binance Coin moves with a flattening trend.
  • BNB continues to trade around $28 with no major ups and downs.

Binance Coin, investors and traders are facing a flat trend since yesterday as the coin continues to trade around similar price mark, with cent change. There is no superficial intraday movement by the BNB price that may gain bountifully. Although this seems to be the calm before the storm as BNB coin has enough potential to trade with greater numbers in the future.

BNB to USD Price Chart by TradingView:

The below chart is a data feed by Binance as on August 20 at 05:24 UTC.

Binance coin Price Prediction- August 20
BNB Price Chart by TradingView

BNB Price Comparison:

Tracing the intraday movement, yesterday the Binance coin opened with a price mark of $27.95 and closed with a slight growth of 3% it closed the day around $28.81. In the past 24 hours the coin has topped as high as $29.33. However, today the coin is exhibiting a flattening trend since the start of the day. With this coin is ranked at 6th position in the crypto market and fetches >9000% Return on Investment with its current trading BNB price being $28.54. The market cap of the price of Binance is nearing around $4.5 million and the BNB coin makes its position amongst the top 10 coins of the market.

Technical Indicators:

The current trading price ($28.54) of the coin is 3.08% and 7.78% less than its 50-day SMA ($29.45) and 100-day SMA ($30.95)

The current trading price of BNB is ought to face 0.00% Fib resistance at $29.343, which is the coin’s 24-hour high price.

The MACD of the coin seems to have taken a bearish turn just now as the signal line seems to overpower the MACD line which shows a selling pressure as per the concerned Moving Average.

The RSI of the coin is slightly above 50, which shows no extremities or intense volatility at present. Based on technicals and BNB price prediction, the coin might continue to trade in a similar trend before marking any significant movement.

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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