Ethereum
$ 1,224.92 5.63%
Solana
$ 42.36 8.58%
Dogecoin
$ 0.068286 3.55%
ApeCoin
$ 4.60 3.78%
Bitcoin
$ 21,440.00 2.15%
BNB
$ 238.98 2.10%

Binance Coin price continues to rest near $16.40

Binance Coin price continues to rest near

On the 16th of June, the Binance Coin price line approached the $16.40 mark after trading over the daily chart with ruffled price momentum. The cryptocurrency’s price observed variations between the $16.07 — $16.83 range.

1-Day Binance Coin price analysis (16th June)

Binance Coin price chart 1 - 16 June

Binance Coin Price Chart by Trading View

BNB price rose across the $16.60 level after starting its trade on the 16th of June. The cryptocurrency shows a series of rises and falls over the day’s chart. After 15:00 GMT, the price turned bearish and fell below the $16.20 mark.

The cryptocurrency returned above the $16.35 mark after 18:00 GMT, while it traded above this price level for the rest of the day’s chart. At the time of writing, Binance Coin was observed trading at $16.39 US Dollars.

Binance Coin price: what’s next?

Merrie is a TradingView analyst who has suggested a couple of scenarios for the BNB’s next price moves.

Binance Coin price chart 2 - 16 June

Binance Coin Price Chart by Trading View

As per their technical analysis, Merrie has stated that Binance Coin may see a double bottom pattern. In this scenario, the cryptocurrency will turn extremely bearish and fall towards the $8 — $9 range first.

According to the second scenario proposed by Merrie, Binance Coin will rally towards the $40 mark, followed by a short rollback, which will then be followed by another rise towards the $65 level. In this case, the BNB price will turn bullish, break above upper resistances and possibly even reach an all-time high.

However, neither of the scenarios are confirmed yet, and the cryptocurrency’s move highly depends on the altcoin market, which depends on the Bitcoin’s influence.

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.

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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