- Binance Coin trades around the lowest price of the trading range at $14.6
- BNB trades with utter selling pressure as it continues to move stably without much volatility
- The coin has been on a declining trading route after it had hit $42.90 in June; just when BTC soared at $13,000
Taking a glance at the daily movement of BNB against US Dollar on the Binance Exchange over the past six months, we see that the coin has notably slid down after June. Having made a failed attempt to rise, BNB coin hit half of the highest trading price marked this year until the time of writing. Unable to hold, it took a reverse turn, and within the same month Binance coin price bottomed out at $13.63.
Binance Coin Price Analysis:
Analyzing a closer view of how BNB/USD has performed in the previous month, which happens to be the most unpredictable for all the altcoins, we see that the coin has remained stable to a major extent. In the previous month, Binance coin price dipped from trading at $21.61 to around $13—giving a fresh 6-month low. Since then, the coin is trading sideways and has remained inclined towards the lower price range and gives no instances of a notable price rise. Hence, the coin might continue its flattish price movement as per BNB forecast.
The selling pressure remains intact as BNB price has no support from the moving averages except the 10-day MA.
The MACD of the coin is running below zero, and it seems that the MACD line with a rise above zero as it cuts the Signal line.
While the RSI of the BNB coin is at 43.12 and holds no extremities but seems to be sliding downsides.