On the 3rd of August, the Binance Coin price line rose past the $3.1 level, and the cryptocurrency traded within the day’s range of $20.70 to $22.50.
1-Day Binance Coin price analysis
The cryptocurrency began the day’s trade near the $2.92 mark, after which it gradually made its way towards the $3.12 level by the evening. At the time of writing, Binance Coin traded at $21.96 US Dollars.
For the day’s lowest, the cryptocurrency traded at $20.70, whereas the day’s highest for BNB price was $22.50.
The 20-Day Exponential Moving Average (20EMA) closed at $22.05, while the 50-Day Moving Average (50MA) was observed at the $22.00 mark at the time of writing. The Relative Strength Index (RSI) stood at 56.14 on the 1-Day charts.
What’s next for Binance Coin price?
The Trading View analyst Trading With The Trend is of the opinion that Binance Coin has turned bullish, and its price will undergo a significant increase.
Binance Coin price chart by Trading View
The analyst drew a rising trendline for the cryptocurrency. The idea suggests that BNB price will make its way towards the $27 mark.
The chart above shows a descending trendline (dotted) on top of the BNBUSD trajectory. Both of the trendlines form a triangular trading pattern for the BNBUSD pair. On the 13th of July, the cryptocurrency broke above the triangle and it is expected to rise towards $27.22.
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.