The Binance Coin price line sees bulls after consolidating at the $18 mark. On the 27th of February, the cryptocurrency saw an uptrend towards the $19.60 mark.
The trading view analyst OneBasketPig was of the opinion that the cryptocurrency has completed the retrace since the BNBUSD line has finally broken its downtrend and it looks as if it’s on a bullish momentum again.
1-Day Binance Coin Price Analysis (27th February)
The cryptocurrency had fallen below the $17.80 mark as it entered the chart for the 27th of February. After breaking the downtrend, the BNBUSD pair saw bulls that led the price line on a continuous uptrend across the $19.60 mark by 18:00 GMT. The price fell short towards the $18.80 level before it regained price towards where it currently trades at $19.4482926 US Dollars.
The 20-Day Exponential Moving Average (EMA) closed at $19.610 while the 50-Day Moving Average (MA) closed at $19.534. The Relative Strength Index (RSI) lies at 70.40.
Binance Coin: Predictive Analysis
OneBasketPig suggested that the cryptocurrency had completed the retrace while it broke through its recent downtrend, and as of now, the coin appears to be bullish.
He supported his claims by highlighting the RSI from the chart posted above, explaining that the RSI seems to be bullish, hence the cryptocurrency is looking towards an upcoming uptrend.
The BNBUSD pair also closed above the 100-Day EMA on the 15M-Chart, while the 10-Day EMA rose above the 20-Day EMA on the 1-Hour chart for the pair.
In the chart posted above, the BNBUSD pair seems to have bounced off the 0.618 Fib during its downtrend towards the $17 mark. This price trend analysis seems to be coming true as the BNBUSD pair still appears to bullish.
Featured Image by Manos Gkikas.
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.