Price Analysis

BNB Price Analysis – December 17, 2019: Binance Coin Moves Stably to a Major Extent

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  • Binance Coin records the bottom at $13.09
  • BNB falls considerably easy as compared to the other altcoins
  • Binance Coin faces the inability to retain support from the short-term Moving Averages

Binance Coin has been trading with the least volatility and maximum steadiness as observed from 3 hourly movements against USD on the Binance exchange. There has been a remarkable rapid fall from the trading price area of $21.41 in the previous month when it recorded a plunge of over 35%. BNB coin fell to the trading pit around $13 in the last week of October. The current trading price lacks active support, but we believe that the Binance Coin will have a marginal move unlike BTC, ETH, and XRP.

Binance Coin Price Analysis

Binance Coin Price News
BNB/USD Chart By TradingView

Analyzing the movement of BNB/USD over the past one month, we see that the coin has been trading more stably rather than recording a dip, unlike the other altcoins. The rapid fall took the price of Binance Coin to trade around the price area of $13. The bearishness is rightly confirmed by the 3-hourly RSI which is currently at 24.44 and has hit the support at 30, trading in the oversold region.

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The MACD of the coin also confirms the bearish push as the MACD line runs below zero, and a further fall can lead the coin to exhibit a fresh 90-day low.

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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