Price Analysis

Binance Coin Price Slips to $19 and Marks 2% Fall

  • Binance Coin price approaches the major support level at $19.79.
  • The chances of recovery remain thin.

Binance Coin (BNB) was seen improving from the beginning of the month. The coin was trading at $19.99 on November 01, 2019 and till yesterday it went up to $20.92. The heavy fall is registered in the coin today. The traders of Binance Coin are disappointed due to the same.

If we look at the market cap, Binance Coin was seen dealing at around $3,114,078,497. However, today, it is currently dealing at $3,161,355,079. Let’s have a look at the intraday movement of the coin.

BNB to USD Price Chart:

Binace coin Price
BNB Chart By TradingView

Yesterday, Binance Coin started trading at $20.69. The price slipped to $20.51 by 0.91%. Further, the price escalated to $20.92 by 2.01%. The pullback pressure again took the coin down to $20.44 by 2.27%. The final hours of the day brought some recovery in the coin. Binance Coin closed the day at $20.69 with an intraday progression of 0.02%. Today, the first few hours took the Binance Coin to $20.83. Further, the coin started falling. The price slipped to $19.96 and the regression marked in the coin was 4.19%. There is a slight recovery in the coin as the current price is at $20.12.

Binace coin Price Prediction:

Binance Coin price was reflecting good signs in the past. The recent volatility of the market affected the price at large. The improvement spotted in the ongoing month is also hampered by today’s fall. However, there was a slight recovery spotted in the coin. Binance Coin slipped almost to the major support level and later started improving.

Resistance LevelPrice
R1$21.07
R2$21.31
R3$21.71
Support LevelPrice
S1$20.43
S2$20.03
S3$19.79

Binance Coin is usually recommended for the long term traders, but as per the current scenario, we would suggest the interested traders to hold on to their investments.

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Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.
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