The highest recorded value for Binance Coin price was around a whopping $39.58 in June of this year. Fast-forwarding to five months later (today), it fluctuates around the $18-$20 marks, still unable to climb to its closest $21 resistance level. Statistics show that there has been a downward plunge of over forty-two (42) percent from August to November. Through these three months, the price has fallen to as low a price as $14.45.
Presently, the situation of Binance depicts strong sell-signals coupled with no substantial support from the Simple or Exponential Moving Averages.
Binance Coin BNB Price Analysis – 19th November (BNB/USD)
As depicted by the graph above, the Binance Coin BNB price keeps falling down a wayward path. The bulls have only been able to surge the coin by so much. The bears have taken over a majority of the market with more plunges downwards. The lowest on the 19th was reached at around 13:02 GMT, with a price of $18.02. Similarly, the high was reached very early into the day at around 02:02 GMT, with a cost of $19.25. Since then, the price has continued a shaky path, finding support at several points but plunging to continuously lowering values.
The Binance price opened at $18.75 on the 19th of November and closed in a declining gradient at $18.45. The moving averages were also brought down by the declining prices, with the SMA (50-D) closing at $18.41 and the EMA (20-D) closing at $18.44. Coupled with the decreasing momentum, the Price Volume Trade (PVT) stood at a value of -761 as it settled into the 20th of November.
Similarly, overall, the Senkou Span 2/B remains below Senkou Span 1/A, which foretells the short-terms bearishness that is prevalent this week.
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