On the 3rd of April, the Binance Coin price line made its way past the $13.50 mark as the market makes a turn around for most altcoins. The cryptocurrency remained between the $12.90 and $13.60 levels for the day’s trade. ralis24 is a TradingView analyst who believes that the cryptocurrency is positioning for a long play.
1-Day Binance Coin Price Analysis (3rd April)
Binance Coin Price Chart by TradingView
On the price chart for the 3rd of April, the BNBUSD pair reached a price target above the $13.50 level, where it saw a day’s high of $13.5887648 US Dollars. The cryptocurrency saw bears after completing its bullish run across the $13.50 mark. The bears led the price line below the $13.00 level before it retraced above the $13.30 mark. The cryptocurrency closed the day with a trading value of $13.3938717 US Dollars.
Binance Coin: technical indicators
Binance Coin Featured Price Chart by TradingView
The Relative Strength Index (RSI) shows a lot of noise on the chart for the 3rd of April while it moved across level 80.00 to note an overbought instance for the coin, when the RSI reached a high of 83.19. At the time of closing, the RSI stood at 57.70.
In the full-featured chart above, the 50-Day Moving Average (MA) closed below the 20-Day Moving Average (MA), at $13.3621695, while the 20EMA stood at the $13.3652369 mark.
Binance Coin: what’s next?
Binance Coin Price Chart by TradingView
ralis24 is of the opinion that the Binance Coin / US Dollar trading pair is positioning itself for a long play over the $13.60 level. The crypto analyst suggested that if the coin breaks past the resistance at the $13.60 mark, the coin will move to its next price target near $18.
Featured Image by Gerd Altmann.
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.
