The Binance Coin price sees a bearish momentum as it approaches the 11th of February. The coin fell below the $24.4000 mark before it saw retracement above the $25.6000 level closer to the end of the 11th of February. The cryptocurrency trades with a day’s range of $23.2976267 — $26.6866230 over the past 24-Hours. Trading view analyst truonglybach believes that the cryptocurrency’s price will soon pop up as the technicals for BNB are in their ideal positions.
1-Day Binance Coin Price Analysis (10th – 11th February)
According to the price chart above, the coin stood below the $25.20 mark at the start of the day, after which it shows irregular price movements until after 21:00 GMT on the 10th of February when the coin saw a bearish momentum. The bears led the cryptocurrency towards the $24.200 level by 06:00 GMT, on the price chart for the 11th of February.
After 07:20 GMT, BNB saw retracement and it regained its value by gradually moving up on the price chart. The cryptocurrency reached a day’s high of $25.7410137 US Dollars by 17:58 GMT. At the time of writing, Binance Coin trades at $25.4385832 US Dollars.
Binance Coin: Predictive Analysis
Trading view analyst truonglybach is of the opinion that as the technical indicators for BNB are in ideal positions, hence the cryptocurrency’s price should pop up soon.
The analyst explained how the cloud is sustained under the price point and the lagging span is located above the market prices. Furthermore, he stated that both, the price point and the conversion line, are observed above the base-line for BNB.
According to truonglybach, all of these conditions are ideal for the technical indicators of the coin, thus the cryptocurrency is expected to have a bullish market in the upcoming months.
Featured Image by Aaron Burden.
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.