The Binance Coin price line moved past the $22.2 mark on the 22nd of August. Peyman RMI is a Crypto analyst who is of the opinion that the BNB price will rise towards $26.
1-Day Binance Coin price analysis
At the time of writing, Binance Coin traded at $21.57 US Dollars. Over the 24-Hour trade, the price rose to a day’s high of $22.24 US Dollars, while the day’s lowest was at $21.27.
What to expect from Binance Coin price?
The Trading View analyst Peyman RMI highlighted the BNBUSD trading pair in an ascending parallel channel, and they believe that the BNB price will rise towards the $26 mark.
Binance Coin price chart by Trading View
As per the chart above, the cryptocurrency is looking to complete its Elliot wave pattern. The third wave should be completed near the $26 level, and the analyst believes that the traders should wait for the price line to soar towards the $26 mark.
According to the trade idea, the price line will fall towards the $24 level after it completes its third Elliot wave, which will be followed by another rise towards the $26 mark. This will mark the completion of the fifth Elliot wave.
The idea is yet to come into play and the price line has fallen towards the lower boundary of the ascending parallel channel. If the cryptocurrency breaks below this channel, it will become bearish and possibly fall below the $20 mark.
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.