On the 5th of August, the Binance Coin price line rose above the $23.2 mark. The cryptocurrency had turned bullish near 03:00 GMT, before which it rested near the $22.2 level.
1-Day Binance Coin price analysis
The BNB price line traded near the $23.2 mark at the start of the 5th of August and the cryptocurrency’s price varied between the $22.0 and $23.6 levels through the day’s trade. BNB price fell to a day’s low of $22.07, while the day’s highest for the 5th of August was $23.57 US Dollars.
At the time of writing, Binance Coin was observed trading at $23.25 US Dollars. The 20-Day Exponential Moving Average (20EMA) stood at the $23.19 mark, whereas the 50-Day Moving Average (50MA) was observed at $23.22 at the same time. The Relative Strength Index (RSI) was observed at 26.28.
What to expect from Binance Coin price?
The Trading View analyst John Brodcast is of the opinion that the BNBUSD pair will see a rise in the long-term trade.
Binance Coin price chart by Trading View
The analyst drew two support levels, one at the $15.15 mark, the other one at the $18.36 level. The crypto analyst believes that the BNB price will see a downtrend towards the lower support here, after which the cryptocurrency’s price will bounce off the $15.15 support and rise past the $18.36 support and reach for newer highs.
The Stochastic Relative Strength Index (RSI) was observed to indicate a bullish movement on the 1-Day chart above.
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.