After consolidating under the $22.20 mark on the 22nd of February, the cryptocurrency moves towards the $22.80 mark. Binance Coin seems to be following Bitcoin’s price trend. The nearest major support lies between the $21.45 and $22 marks.
While trading with a day’s range of $21.9548569 — $23.2608776, Binance Coin has come to rest near the $22.80 level.
1-Day Binance Coin Price Analysis (23rd February)
As observed in the 24-Hour price chart above, the price line for Binance Coin shows ruffled price movements between the $22.00 and $22.20 levels before it approached the price chart for the 23rd of February. Just before 03:00 GMT, the coin saw a bearish momentum towards the $22.80 mark after consolidating below the $22.00 level. The cryptocurrency rose to the $22.80 level, where it traded till the end of the day.
Currently, Binance Coin trades at a price of $22.7141431 US Dollars. Trading view analyst NinoMastermind believes that the coin is expected to reach a longtime target of $49 if Bitcoin hits $10,000.00 US Dollars.
Binance Coin: Technical Indicators
The Relative Strength Index (RSI) rose to 80.00 on the scale at two instances on the 23rd of February. The technical indicator currently trades at 46.36.
The 20-Day Exponential Moving Average (EMA) traced above the 50-Day Moving Average (MA) through most of the 1-Day price analysis, while it currently lies above the simple moving average, at $22.7170557. The MA closed the day at $22.7171159.
As per coinmarketcap.com, Binance Coin has a market capitalization of $3,534,984,252 US Dollars.
Featured Image by Kris Atomic.
Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan holds no liability towards any investments based on the information provided on this page.