Binance Coin price falls to $26, what’s next?

Binance Coin price falls to what s next
  • Binance Coin price falls to $26 losing support at $27.
  • Binance showing volatility period along with other cryptocurrency.
  • Bitcoin price fluctuating associated with market

The Binance Coin price line observed a move towards the downside on the 20th of September as the altcoin market saw a bearish momentum. The cryptocurrency fell towards the $26 level, while it traded above the $27 mark for most of the 24-hour trade.

1-Day Binance Coin price analysis

Binance Coin price chart 1 - 19 September
Binance Coin price chart by Trading View

Binance Coin is currently ranked 7 amongst the cryptocurrency as per its market capitalization. Per coinmarketcap.com, the cryptocurrency has a market capitalization of $3,770,154,431 US Dollars. The max BNB supply currently lies at 176,406,561. The cryptocurrency secured an all-time high of $39.57 US Dollars, while it’s all-time low was at $0.096109 US Dollars.

Binance launched the Binance Smart Chain on the 1st of September. The Chief Executive Officer (CEO) of Binance, Zhao, has discussed the decision of the company to add newer DeFi projects to the platform.

At the beginning of the day’s trade, the cryptocurrency traded at $27.08 US Dollars. The price stayed above the $26.8 level until noon on the 20th of September. The BNB price line fell to a day’s low of $25.58 in the evening of the 20th of September.

During the time, the Relative Strength Index (RSI) had dropped to lower values, thus depicting an oversold cryptocurrency. At the time of writing, the cryptocurrency was priced at $26.06 US Dollars on Binance.

Binance Coin technical indicators

Binance Coin price chart 2 - 19 September
Binance Coin price chart by Trading View

The Bollinger Bands showed lower price volatility until 06:00 GMT on the 20th of September. The cryptocurrency traded above the $26.8 price level during that time. Near 03:00 GMT, the cryptocurrency can be observed showing increased price volatility on the smaller time frames. In the afternoon, the cryptocurrency fell bearish towards the $26 mark. At the same time, the Bollinger Bands showed increased expansion, as the price observed more fluctuations during that time.

Near the time of writing, the cryptocurrency held above the midline, while the Moving Average Convergence Divergence (MACD) line was about to slide below the signal line. Here, the histogram size appears to be increasing in the positive region. The technical indicator’s lines moved towards the negative region near noon and returned towards the positive region by 13:30 GMT. This repeated twice in the evening. During this time, the cryptocurrency exhibited a bearish bias. At the time of writing, the MACD stood at 0.010, while the Signal line was observed at 0.00025. The histogram was marked at 0.010.

UNI is a new governance token minted by Uniswap. The governance token was recently made live on Binance and Coinbase along with their iOS and Android apps. This allows customers to buy, sell, trade, or even store the token. UNI’s price has gone from $1.76 to $5.85. This marks over a 300% increase in its price after Binance and Coinbase’s listings. The market capitalization has gone up to $995 million US Dollars.

Disclaimer: The information provided is not a trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Taha Farooqui

Taha Farooqui

Taha specializes in copywriting & translating texts. He aims to cover cryptocurrencies & blockchain in both English and local dialects in the Middle Eastern regions. He has helped write, translate, and localize the material related to cryptocurrencies and blockchain.

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