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Binance Coin BNB price is back below the $20 mark

Binance Coin BNB price is back below the 20 mark

Binance Coin BNB price chart is a telltale of an epic struggle the Binance lead cryptocurrency has had in the last seven days.

BNB price stood at the $19.19 mark on the 26th of October 2019, and after a small dip on the same day, the price went steadily up to $19.5 mark.

That’s when the Binance Coin BNB price chart shows a small pullback before a jump to $21.202 on the 28th of October. BNB price has hit the $21 mark twice in the last seven days; however, it seems that the bullish run is over now, and the price is struggling to stay at $20 mark.

Binance Coin BNB price chart 1 - 1 November 2019Binance Coin BNB price chart by Trading View

On the other hand, Bitcoin’s price is stagnant in the $9000 range without a proper breakthrough keeping the crypto-winter far but the market volatile at the same time.

Binance Coin BNB price: What to expect?

Binance has stayed above the slope for the last three days, which is a positive indicator. It is now retesting at 19.91 USD after breaking out of a critical level.

Binance Coin BNB price chart 2 - 1 November 2019Binance Coin BNB price chart by Trading View

In case the pair jumps off this line, it will be a positive indicator. The Exponential and Simple Moving Average(s) (EMA and SMA) indicate that the bulls have taken over. Beyond $21.2378, it will be able to move past $23.5213 to $32.

On the contrary, in case of price re-enters the slope downwards, a break could drop the price to $16.50, and investors can follow the end loss on the long position to $16.

Taha Farooqui

Taha Farooqui

Taha specializes in copywriting & translating texts. He aims to cover cryptocurrencies & blockchain in both English and local dialects in the Middle Eastern regions. He has helped write, translate, and localize the material related to cryptocurrencies and blockchain.

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