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Binance Coin price analysis: BNB price falls to 28

binance coin price analysis 15 august 2019

Binance coin price analysis reveals that Binance Coin (BNB) is trading for twenty-seven dollars ($27.64) with a market cap of four million dollars ($4,298,785,624).

The circulating supply amounts to 155,536,713 BNB. There has been a ten percent (10.7%) decrease in the twenty-four (24) hour volume after which the current volume is 0.2 million dollars ($204,233,464), at the time of writing this analysis.

Bearish as they altcoins come, BNB price is no exception. It has rallied to the lower lows making for a depreciated cryptocurrency.

On the top-side, BNB has to face the twenty-nine dollar mark ($29.0191) that is a major resistance point for it to cross over. If the bears want BNB to be above the bearish curve again, they might reconsider, pushing it above the nearest resistance mark.

Binance Coin price analysis: BNB price falls to 28 1
Binance coin price chart by Trading View

The resistance mark has not been touched once and proves to be a formidable obstacle in the way of a bearish BNB incline if it occurs after the short-term bearish pattern ends.

The parabolic stop and reverse (SAR) give a rather bearish outlook with the relative strength index (RSI) plummeting BNB to the oversold territory.

Binance coin price analysis: Resistance/Support

Alas, the sellers are in play and the buyers must confide within the shadows while the sellers fight over the cryptocurrency in question.

The relative strength index (RSI) is nop good either and signals a consolidation around the twenty-four dollar mark ($24.000)

The Bollinger band shows much volatility when expanded for analysis. The outcome of such a pattern is usually an upward trend.

The parabolic SAR, on the Binance Coin price analysis charts, prompts a bearish outlook. Instead of an upward move, we might expect consolidation in the short-term because of the technical indicators, leaning towards it more.

Ahmad Asghar

Ahmad Asghar

A first generation gamer at heart and tech buff by nature, have been involved in the tech sector for better part of a decade. With that insight and knowledge, he now covers blockchain, cryptocurrency and everything fintech so others can make sense of the industry.

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