Deviating from the bearish run the Binance Coin BNB price underwent last week, the price showcased a resistance on the 26th which was met with support on the 27th. These progressions allowed the coin to surge above its baseline to close at a value of $16.23.
Binance Coin BNB Price Analysis – 26th & 27th November (BNB/USD)
Showcased by the featured chart above, the Binance price is seen to have deviated strongly from its rather short-ranged price levels at two instances. These are represented as the resistance of the 26th and the support of the 27th.
Binance reached its highest value around 09:27 GMT, rather early into the morning, to attain the price level of $15.87 which proved to be a substantial resistance value, and the coin stooped below this height to continue trading within a tight range to close at $15.33 finally.
Similarly, it reached its lowest price on the 27th after touching the $14.6 support. However, this resulted in a surge of price whereby the coin closed at the value of $16.23 opening into the 28th.
As displayed by the full-featured chart above, the trading price did not differ significantly from the moving averages, which shows that there have not been any notable variations in the cryptocurrency’s trading value. The 50-Day Simple Moving Average (SMA) closed at $16.06, whereas the 20-Day Exponential Moving Average (EMA) closed at $16.09.
The Relative Strength Index (RSI) closed at 50.47, which shows a balance between the bulls and the bears as the value is set at the mean position. It reached its highest value of 82.78 at 17:13 GMT as the coin was surging upwards indicating the bullish nature of the rise.
Based on the data from the past two days, the next resistance levels lie at $16.78, $17.33 and the $18.42 levels. On the other hand, immediate support lies at $15.14, $14.05, and $13.5.
Featured Image Background by Spencer Watson