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)
Binance Coin Price Chart by TradingView
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
Binance Coin Price Chart by TradingView
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.
