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.
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.
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.