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.
As indicated by the graph above, this week’s average hovers around $20.0187.
Binance Coin BNB price: peering into the details
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.