As per the latest reports, after staging a robust rally along with the recovery of the crypto market, the Binance coin price is presently rising.
The Binance Coin (BNB) is currently trading at the top-level since 24 September 2019 and increasing twenty-percent of its price as this monthly price opening of October.
However, this latest increase in the value of Binance Coin did not do much about the recovery of the losses in summer that the BNB had to experience after it reduced to about sixty-five percent of its worth from 27 June till 26 September.
The BNB price is, however, under the influence of bearish trend over the short-term and the medium-term and is yet in a risky position whilst changing hands below twenty dollars ($20.0) levels; because of the presence of death-cross in the daily-time frame.
Binance Coin price movement: What’s coming?
While the mid-term chart indicates that there has been an initiation of the ascending triangle pattern, and the bullish pattern is already getting the upside objective. The key resistance is at a little over eighteen dollars ($18.50) and a little over nineteen dollars ($19.50) levels.
As per the Sentiment data from TheTIE.io, BNB is experiencing a short-term bullish sentiment at about a little over seventy-five percent (75.50%), whilst the overall long-term sentiment towards Binance Coin is neutral at about fifty-two percent.
The mid-term chart displays that Binance Coin price is yet to reclaim its previous short-term bullish standing. The two-hundred MA is currently found at a little over eighteen dollars ($18.50) level.