Binance Coin price rises above $17.4 before returning to $16.8

Binance Coin price rises above before returning to

The Binance Coin price line moved above the $17.30 level on the 8th of July, after which the cryptocurrency’s price lowered towards the $16.80 level before closing the day’s trade. The coin traded within a day’s range of $16.62 to $17.46.

1-Day Binance Coin price analysis (8th July)

Binance Coin price chart 1 - 8 July

Binance Coin Price Chart by Trading View

At the start of the 8th of July, the BNBUSD pair traded near the $16.80 mark, while it fell to a day’s low of $16.62 US Dollars. The price trajectory was observed inclining towards the $17.30 level just as the day proceeded to noon. The cryptocurrency moved past the $17.40 mark to approach a day’s high. At the time of writing, Binance Coin traded at $16.86 US Dollars.

What to expect from Binance Coin price?

Nas Al Mutairi is a TradingView analyst who believed that the BNB price line will move past the $80 level.

Binance Coin price chart 2 - 8 July

Binance Coin Price Chart by Trading View

The analyst believes that the BNBUSD pair will approach a new all-time high for the cryptocurrency. Currently, the cryptocurrency trades below the $17.00 level, and it is expected to travel upwards on the ascending trendline that it appears to trade above.

For this idea, the analyst is of the opinion that the new all-time high that BNB appears to move towards will be no lesser than 11 times its current value. The selling price for this trade is at the $81 mark. After achieving the previous all-time high, the cryptocurrency dropped around 81% to 89% on the charts.

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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