Binance Coin BNB price sees red again at $17.80

Binance Coin BNB price sees red again at 17.80

Binance Coin BNB price has hit a major snag as it is now halted at a little below the eighteen dollars ($18) mark in the seventeen dollars ($17.80) range.

Binance Coin BNB price has been soaring above the eighteen dollars ($18) mark for the better part of the week, and the struggle was never about sustaining at that mark but rather to use the support to fly higher.

Binance Coin price chart 1 - 22 October 2019Binance Coin BNB price chart by Trading View

While other cryptocurrencies are showing a similar trend, not just the top ten but rather most of the top hundred cryptocurrencies are facing red at the time of writing.

Binance Coin BNB price movement: What to expect?

Quite like a looped spring, the Binance Coin price movement has been tensed. The exponential and moving averages are level, and the relative strength index shows a value near the median, indicating the equilibrium between the rise and the fall, or more specifically, the bulls and the bears.

Binance Coin BNB price chart 2 - 22nd October 2019Binance Coin price chart by Trading View

During the upcoming days, it is expected that the price will release itself from the range. In case the price favors the downward trend, it could fall to sixteen point five ($16.50) even lower to fourteen dollars ($14.2555).

However, in case the subsequent level rests beyond the support value, the bulls will try and pull the price above the downward trend. Considering the Binance/Dollar pair reaches highs, it could go up to 23 dollars ($23.5213) and beyond that to thirty-two ($32.60). Thus, a turnaround is indicated.

Shawn Du'Mmett

Shawn Du'Mmett

Former IT development and consultant, remote team and collaboration expert, PM, CCO, writer, dreamer, idealist looking to collaborate with global teams on a global teal/turquoise organisation. Shawn's dream is working together openly, to get what writers need and want, and to solve biggest global problems. He is building a collaboration system from the start that everyone can own and define, allowing them to work together, to decide how it works and to their highest ideals.

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