The Binance Coin price line is expected to rise above the $50 level by Nico Fresh, per the crypto analyst on TradingView. On 23rd June, BNB price varied between a day’s range of $16.32 to $16.47.
1-Day Binance Coin price analysis (23rd June)
The cryptocurrency stood near the $16.55 level at the beginning of the daily trade, after which it turned bearish, and the price trajectory gradually slipped below the $16.30 mark.
After 15:00 GMT, the price returned above the $16.50 mark. At the time of writing, the BNBUSD pair was observed at $16.44 US Dollars.
Binance Coin price on technical indicators
Binance Coin price chart by Trading View
For 23rd June, the moving average technical indicators showed ruffled price patterns after touching a high of $16.55 at the start of the day’s trade. At the time of writing, the 20-Day Exponential Moving Average (20EMA) was observed at $16.42, whereas the 50-Day Moving Average (50MA) was seen closing at the $16.41 mark.
The Relative Strength Index (RSI) rose to a high of 75.41 at 14:13 GMT. The value depicts that the cryptocurrency was overbought at the instance. The RSI indicator observed a lot of noise on the daily chart for 23rd June. At the time of writing, the technical indicator stood at 68.39.
Binance Coin price; what’s next?
Nico Fresh is a TradingView analyst who believes that the BNBUSD pair will see a long bullish move in the upcoming year.
Binance Coin Price Chart by Trading View
The analyst indicated the moving averages on their idea chart while suggesting a target price range of $50 to $100. The entry point for this trade was indicated at $16.50, and the stop order was placed at $12.50 by the crypto analyst.
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.