The Binance Coin price line rose past the $23.3 level on the 14th of August. The BNB price closed the day near the $23.2 level after trading within the day’s range of $21.28 to $23.32.
1-Day Binance Coin price analysis
The cryptocurrency traded near the $21.8 mark at the start of the 24-Hour trade, after which the price line varied near the $21.4 to $21.8 mark. After 09:00 GMT, the BNB price turned bullish and rose towards the $22.8 level. Binance Coin closed the day at the $23.2 mark. At the time of writing, Binance Coin traded at $23.33 US Dollars.
What to expect from Binance Coin price?
Trading With The Trend is a Trading View analyst who believes that the BNBUSD pair will rise towards the $28 mark.
Binance Coin price chart by Trading View
The analyst highlighted an ascending parallel channel for the BNBUSD pair on its 4-Hour trading chart. In their technical analysis, the analyst highlighted the net volume indicator for the trading pair and the fact that its net volume has increased. The cryptocurrency is expected to rise towards the upper boundary of the ascending parallel channel and test the rising resistance near $28. The trading channel began on the 2nd of July 2020.
If this idea comes into play, the cryptocurrency will form the 5th wave and push towards the resistance near $28. On the 14th of August, the trade became active when the cryptocurrency rose towards the $23.4 mark.
Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.