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Binance Coin price falls to $16.40

Binance Coin price falls to what s next

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)

Binance Coin price chart 1 - 23 June

Binance Coin price chart by Trading View

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 2 - 23 June

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 3 - 23 June

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.

Johnson Go

Johnson Go

Blockchain enthusiast, project management specialist, writer and crypto investor. JG deals mostly with problems and solutions of crypto projects and provides market outlook for investments. He contributes his analytical skills to projects.

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