- Binance Coin price predictions expect a rise to $32.
- BNB price drops to $30.10 support leves.
- BNB shaky during the Bitcoin market uptrend.
The BNB price depreciated at the beginning of the 19th of October after which it recovered above the $30 level. The Binance Coin price prediction by Abo Mahdiyar suggests that the coin will soon rise towards the $32 mark.
1-Day Binance Coin price analysis
At the day’s lowest, the price was observed at $29.24. BNB was priced at $30.17 US Dollars at the time of writing.
What’s next for Binance Coin?
Binance has been seeing its growth as it gets accepted over several platforms and enters the payment industry. Binance has also bridged the gap between traditional currencies and digital currencies by allowing users to spend cryptocurrency using Swipe.
This increased acceptance of Binance, with more opportunities to come will allow the cryptocurrency to trend upwards on the charts. Ever since the time of publishing, the cryptocurrency has risen by around $6 US Dollars. The price was testing the liquidity supply level then, now it has broken above it and it is expected to trend towards the $44 mark by the crypto analyst.
The crypto observed a shift of momentum near mid-July, after which the cryptocurrency has been trending upwards on the charts. Before this upward breakout, the price was trading inside a range of $8 to $24.
Binance Coin price prediction: Uptrend towards $32 ahead?
A triangle pattern can be seen on the chart below for the BNBUSD pair. The analyst Abo Mandiyar believes that the cryptocurrency trades above a buying zone and that it will gradually make its way past the $35 mark to reach higher take profits.
The price is still stuck below an important resistance level that was marked at $31.95. This resistance for previously tested by the cryptocurrency, and now it has returned towards the upper boundary of the buying zone. A bounce above this zone will cause the coin to retest the resistance and break above it. The first take profit was marked at $37.49, whereas the second take profit was at $41.60. The stop-loss order for this trade is was marked at $25.92. If the price broke below this, the trade will stand invalidated.
What’s next for BNB?
The Trading View analyst Gold D Roger believes that Binance Coin is highly bullish right now and it will move towards the $33 mark soon.
The next take profit for the pair is at $33.5, but the analyst believes that the cryptocurrency will see a downtrend towards the $30.5 or $30 mark before ascending to $33.
Binance Coin technical indicators
The Relative Strength Index (RSI) was marked at 47.33, which means that the coin is in the neutral zone. The Bollinger Bands showed a decrease in the price volatility over most of the day’s trade. The RSI fell below 30.00 after 03:00 GMT, depicting an oversold moment for the coin.
Disclaimer: The information provided is not 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.