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Price Analysis

Binance Coin Price Marked an Intraday Hike of 5%; Still Hovering in the Red Zone

  • BNB is trading around 16.03 USD

There has been some enhancement in the iOS and Android app of Binance. Some new features that have been added support for margin trading and multiple languages interface. It also fixed some bugs and made some fundamental improvements. Additionally, the chain partnered with Coinfirm to curb down the issue of anti-money laundering (AML). Binance is working on integrating Coinfirm’s agnostic AML platform to ensure secure trading.

BNB Price Comparison

On September 13, Binance Coin (BNB) was trading around 21.06 USD. From there, today, after 25-days, the crypto has dipped by a substantial margin of 23.88%. However, in stark contrast, it marked a strengthening of 1.18% in a week of trading. Similarly, the intraday trading is also a bullish one. Yesterday, the crypto coin opened at 15.34 USD, and with a hike of 5.18%, it wrapped the day at 16.13 USD.

Binance Coin Price
BNB Chart By TradingView

Binance Coin is one of the strongest coins in the market right now and the backing from the Binance chain is also adding to it. Moreover, the nearby resistance for the crypto coin is at 16.48 USD, and the support is at 15.48 USD.

Financial Action Task Force (FATF), an international watchdog for illegal transactions, has issued a new set of guidelines to resolve AML. The tie-up of the chain with Coinfirm will ensure the integrity of the transactions. Meanwhile, the short-term trend in the coin seems to be bearish. However, it is the right time to buy and hold on BNB chips for huge returns in the long-term.

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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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