Binance Coin price has been curtailed by 4.62% over the last 24 hours, and it has been dropped to $15.27 from $16 in this period. Investors need to stay put as the currency may deteriorate further before making any steep upside movement.
Binance Coin Price Analysis
Despite the recent price correction, BNB coin persists its month-long upside trend, and hence, there is a possibility that the coin might recover and regain a $16 price mark.
If we look at the price movement of Binance Coin against the US Dollar over the last 24 hours, the currency was trading with upward momentum and spotted at $16.01. It continued the uptrend, and over the next 04 hours, it escalated to $16.45, which was the highest point for the day.
At this high, the BNB coin couldn’t manage for long and faced rejection. It was followed by a 9.54% price drop that took the value to the lowest point of the day at $14.88 by 19:59 UTC. However, after registering this low, Binance Coin price escalated from there, and by 04:12 UTC, it reached $15.36 by 3.24% hike.
At the time of writing, the price of BNB coin faced marginal drop and spotted at $15.27 without having support from SMA 20 & 50. Its RSI indicates no extremities as it is now at 47.99 points. Although the currency trades under selling pressure, it regained its price level above $15, and it might continue this trend to recover up to $16 price mark.