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Binance Coin BNB Price: The 9.83% rise

Binance Coin BNB Price Analysis Dec

Deviating from the bearish epoch of the Binance Coin BNB price timeline, the bulls aided the cryptocurrency in attaining the surge it needed to continue its path upwards. 

Binance Coin BNB Price 1-Day Analysis – 18th December (BNB/USD)

Binance Coin BNB Price Analysis Dec 18 Chart 1

Binance Coin BNB Price Chart by Trading View

Binance Coin traced an upward sloping route over the 18th of December. It deviated from its bearish outcomes over the past few days ad allowed the gradual surge upwards after falling to its short-lived support value.

The price initiated its run on the 18th at the $12.38 value after it had declined by 6.78 percent. However, from these lows, the coin rose gradually to attain a value of $12.90. It then fell to its support at $12.20, which aided the bulls in garnering the support they needed to surge upwards. The coin then took a turn in a positive direction, which allowed the price to reach the day’s ultimate high of $13.72. The cryptocurrency then closed at the $13.66 mark, rising by 9.83 percent. 

Technical Indicators

Binance Coin BNB Price Analysis Dec 18 Chart 2

Binance Coin BNB Price Chart by Trading View

As apparent on the full-featured chart, the Binance Coin displayed several instances of overselling and overbuying in the 24-hour chart. This suggests that the bulls and bears were at odds with one another over this period with the bulls ultimately triumphing. The maximum RSI reached was 85.45, which appeared before the price was led to its support post-rise. The minimum was RSI was 22.03. The RSI closed at a slight oversell of 71.96.

The 50-Day Simple Moving Average closed at $13.12, four percent lower than the price. The 20-Day Exponential Moving Average, on the other hand, closed at $13.55.

Featured Image Background by Xiang Ji

Aroosa Nadeem

Aroosa Nadeem

A media graduate and passionate media person Aroosa has a knack for digital media journalism and outreach. She has contributed content to different digital media publishers in a variety of areas including technology, health and finance.

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