The increased market momentum made the coin hit the twenty-six dollars ($26) price mark in April. An evening star candle pattern is starting to form as the price slowly declining from twenty-six dollars ($26) to twenty-one dollars ($21).
The twenty-one dollars ($21) price is where Binance and the US dollar unified. At the beginning of May, the increased market momentum caused the prices to surge once again causing the formation of a Doji candle.
This price surge aimed to be the price levels back at twenty-six dollars ($26) after twenty-one dollars ($21).
After this, the market momentum started to decline and made the price value land at a stable demand value of nineteen dollars ($19).
Binance’s prices are between a twenty-one and fifty exponential moving average. This indicates that the decreased market momentum is expected to continue.
As of now, the Moving Average Convergence Divergence period also indicates a further continued decrease in binance prices.
If the decreased market momentum continues to decline even further, then the nineteen dollars ($19) price levels might be broken by the sixteen dollars ($16) price level.
The short term outlook on the Binance and US dollars indicates that the pair is going to be suffering from a decrease in market momentum. The first stable price range was between twenty-one dollars ($21) and twenty-three dollars ($23).
This did not last long, and the price increased to twenty-six dollars ($26). An inverted pin bar was noticed which indicates a bearish reversal candle pattern.
The price started to lean towards nineteen dollars ($19) just after hitting the price range between twenty-one dollars ($21) and twenty-three dollars ($23).