Binance Coin price falls back to $22 after turning bearish. The cryptocurrency overextended across the $26 mark, and now it has returned towards the mean. Trading view analyst OneBasketPig is of the opinion that the BNB/USD trading pair is looking for support near the $22 mark.
1-Day Binance Coin Price Analysis (15th – 16th February)
Binance Coin Price Chart by TradingView
As seen in the chart above, Binance Coin returns from the $26 mark after an overextension. The cryptocurrency’s price line fell to the $24.00 mark after the chart for the 16th of February turned up. The bearish momentum further led the price towards the $22.00 level just as the day came to an end.
Currently, BNB/USD has a day’s range of $21.6925874 — $25.2708276. The Relative Strength Index (RSI) is placed at 31.44.
Binance Coin: Predictive Analysis
OneBasketPig predicted that BNBUSD had overextended to $26, and it will now return to its mean value. The MACD is also turning bearish, and the cryptocurrency is looking for support between $21.50 and $22.00.
Binance Coin Featured Price Chart by TradingView
The crypto analyst further stated that the wick of the on-going bearish candle is rejecting the higher trading value for the cryptocurrency, and the selling pressure continues to go on.
This predictive analysis seems to be coming true, the cryptocurrency has currently fallen to a trading price of $22.6802396 US Dollars, and it is still under a bearish momentum.
Featured Image by Echo Grid.
Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan holds no liability towards any investments based on the information provided on this page.
