Price Analysis

Will Binance Coin (BNB) Be Able to Outwit the Bears?

From the beginning of the year, Binance Coin has picked a steady uptrend till July. With the onset of bears in July, their steady run was cut short, and the price started undergoing a lot of variations. If we look at the price chart of the last 30-days, BNB coin is trying to recover from the bear onslaught where the price has been fluctuating between $15 – $19.

Binance Coin Price Analysis

Though the price of BNB coin has been below the baseline most of the time in the past 30 days, the last few days have shown that the coin is trading at a higher range. Binance Coin price begun on a low note at $14.9284 on September 26. The price was moving below the baseline for some days but then showed recovery to the extent of 9.57% on October 09 at $17.8759. After two days, BNB price went down again to $16.61088, and the downward movement was to the extent of 7.01%. Then, Binance Coin got a 14.17% raise, and again the price dropped by 5.27%. Currently, it is trading at $17.8747.

Binance Coin Price
BNB Chart By TradingView

Binance Coin is trying to regain its lost position in the crypto market, but the bears are still going strong. As per the current movement and historical data, it is anticipated that BNB coin may find the next resistance near $19 soon. Investors should think from a long-term perspective and hold on to their current investments.

Resistance & Support Levels

R1: $18.61, R2: $19.02 and R3: $19.24

S1: $17.98, S2: $17.76 and S3: $17.35

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Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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