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Home News Binance News

Binance Coin price returns to $20.8, move to $24 next?

Taha Farooqui by Taha Farooqui
August 14, 2020
in Binance News
2 min read
Binance Coin price returns to $20.8, move to $24 next?
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On the 13th of August, the Binance Coin price line rose returned above the $21.8 level after it fell short below the $20.8 mark. The cryptocurrency traded between the $20.6 and $22.0 levels for the day.

1-Day Binance Coin price analysis

Binance Coin price chart 1 - 13 August

Binance Coin price chart by Trading View

The cryptocurrency was priced near the $21.4 level at the beginning of the 13th of August. By 09:00 GMT, the price line had fallen to a day’s low of $20.63, after which it gradually ascended past the $21.8 mark before closing the day’s trade. At the time of writing, BNB traded at $21.47 US Dollars, while it closed the daily trade at a price of $21.87 US Dollars, which was also the day’s highest for Binance Coin.

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The 20-Day Moving Average (20EMA) closed at $21.47, while the 50-Day Moving Average (50MA) was observed at the $21.47 level at the same time.

At the time of writing, the Relative Strength Index (RSI) stood at 39.84. At 17:17 GMT, the RSI was seen at 82.28, which means that Binance Coin was overbought at the time.

Will Binance Coin rise to $24?

David Iskak is a Trading View analyst who believes that the BNBUSD pair will rise towards the $24 mark.

Binance Coin price chart 2 - 13 August

Binance Coin price chart by Trading View

In their analysis, the David drew a path that they expect the BNBUSD trading pair to follow so that it may rise towards the $24 level. The idea is yet to come into play. Ever since the idea was posted, the cryptocurrency’s price line observed a bearish candle on the 1-Day chart for the 13th of August.

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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