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Price Analysis

BNB Shows Contradictory Trends in the Past 24 hours

Binance coin was noticed to be underperforming in the last 2 months, ranked amongst the top 20 coins. But how is it affecting the traders’ portfolio is a bigger concern here.

Binance coin Price
Binance coin Chart By TradingView

Considering the data from the past 5 days, Binance Coin was initially trading below the baseline at $21.163 as on September 14, 2019, at 21:55 UTC. Further, the price dropped by 5.84% as of September 16, 2019 at 16:05 UTC trading at $19.928.

A tremendous escalation was realized when the value increased by 16.24% as of September 18, 2019 at 11:25 UTC when BNB was trading at $23.148. This was noted to be the highest touchpoint in the last 5 days. However, the current value has dropped by 10.46% from the latter price mark.

BNB is fluctuating in the bearish zone right now and seems to have had a steep drop lately.

BNB Price
BNB Price Chart

Considering the short-term movement, the value witnessed some tremendous escalations, but today, it has dropped below the baseline again. The short-term movement can be profitable for the traders if the buy/sell decision hits on the correct point.

BNB Price Chart
BNB Price Chart

If we look at the long-term movement, on the other hand, BNB is fluctuating in the moderate bearish zone. After the highest touch point seen on June 21, 2019, the value has witnessed a constant drop in the chart.

Irrespective of short-term or long-term movement, the resistance and support level is calculated as follows:

Resistance Level:

R1: $23.1, R2: $23.95, R3: 24.99

Support Levels:

S1: $21.21, S2: $20.17, S3: $19.32

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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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