Binance Coin price analysis 5 May 2019; drops 7% against BTC

Binance coin has shown a good and stable performance since last week on the trading chart. An increase of two hundred and forty percent (240%) has been witnessed for the past three months which is a massive success. However, in comparison to Bitcoin, the BNB has lost 7% and shows resilience as compared to USD.

Binance Coin price analysis 5 May 2019; drops 7% against BTC 2
Binance Coin BNB chart created with Trading View

The analysis of BNB/BTC 1-Day Chart shows that the previously the BNB has declined in its value as compared to BTC and the support was maintained at the 0.0040 BTC.

The nearest region of resilience from the upper level is estimated to be 0.0042 BTC and more resistance can also be expected up to the level of 0.0040 BTC (if this level will be achieved it would be regarded as the highest level of BNB against Bitcoin).

The downward resistance levels are 0.0038 BTC which is the closest to the support and more support can lie up to 0.00355 BTC.

Binance Coin price analysis 5 May 2019; drops 7% against BTC 3
Binance Coin BNB price chart created with Trading View

Currently, Binance coin market cap value is over three and a quarter billion dollars ($3.31 bn). The analysis of BNB/USD 1-Day Chart has revealed that the support is found to be $21.70 which is a stable support level.

The upper area resistance resides in the zone at $24 and can be expected to $30. The low zone resistance is seen at $22.60 and can fall to the level of $20.

The trading volume was low but, recently it shows some positive momentum. The RSI oscillator indicates the trend of the surging market on the chart.

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