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Binance Coin BNB price analysis: volatility resumes at $20

Binance Coin BNB price analysis volatility resumes at 20

The Binance Coin BNB price proceeds with its alternating pattern around $20, which has been an ongoing battle for the cryptocurrency these past five days and prior.

The price charts indicated that in light of a movement by the bulls, the BNB Coin could rise to the price of $32.

However, upon reaching this week’s highest value of $21.1555 on the 29th of October, indicating an increase of 0.71 has since then dropped down to $19.1860, which is the lowest for the week.

It has picked up from there indicating slight movement by the bulls but has not been able to reach the week’s peak up till this point of writing. Binance Coin (BNB) Price Analysis: The Volatility Continues Around The $20 Mark

Binance BNB price chart by Trading View

As indicated by the graph above, this week’s average hovers around $20.0187.

Binance Coin BNB price: peering into the details

Binance Coin (BNB) Price Analysis: The Volatility Continues Around The $20 Mark

via Trading View: Binance (BNB) Trading Chart

The 50-day Simple Moving Average (SMA) closed at $20.1599 but has picked up its momentum since the 31st of October.

While the 20-day Exponential Moving Averages lies at the $20.0542 mark indicating a head and shoulders pattern on the 2nd of November resulting in a further decline of momentum. The Relative Strength Index nears the mid-point and hovers at 46.58.

The most substantial support lied at $19.1855, whereas the most vigorous resistance was at $21.2192. It is still expected that the value will scale to at least $32 if met with strong bullish movement, or else the bears will look forward to numbers below the support to $16.50.

Aroosa Nadeem

Aroosa Nadeem

A media graduate and passionate media person Aroosa has a knack for digital media journalism and outreach. She has contributed content to different digital media publishers in a variety of areas including technology, health and finance.

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