Binance Coin BNB price analysis: moving up by 5.19%

Yesterday’s reversal of the Binance Coin BNB price surge made its way into the 12th of November, following which the bullish momentum has picked up once more. 

Treading beneath the baseline, the price of the Coin progressed feebly only to pick up momentum as the day neared its close into the 13th of this month. This movement completely negates thirteen being an unlucky number, considering this date helped the bulls garner the strength to move upwards.

1-Day Binance Coin BNB Price Chart (BNB/USD)

binance bnb price chart 1

Binance Coin BNB Price Chart by Trading View

As indicated above, there is a gentle slope upwards, which allowed the Binance price to attain its maximum value of $20.995 as it closed into the 13th. This showcases how, after a bearish movement (indicated in the graph below), was overruled by a bullish surge to take the Binance Coin beyond the previous marks at which it had been consolidating before this week.  The price of Binance Coin mostly varied between $20.16 and $20.61, with a low of $20.14

Technical Indicators

binance bnb price chart 2

Binance Coin BNB Price Chart by Trading View

As showcased above, the red (bears) takes up most of the movement, which then morphs into the blue (bulls) as the day closes.

The 50-Day Simple Moving Average (SMA) and the 20-Day Exponential Moving Average (EMA) followed the price movements by replicating the path which it had been taking to close at $20.52 and $20.57, respectively.

The trading volume ordered between $ 196.72 MM and $ 222.55 MM, with a week’s moving average of $ 216.70 MM.

The Relative Strength Index (RSI) closed at a whopping 68.78- a clear indicator of the bullish inclination.

Featured Image by Flickr