1-Day Binance Coin price analysis
At the beginning of the 8th of August, the cryptocurrency traded near the $22.2 mark. The BNB price line reached a day’s low of $21.87, while it approached a day’s high of $22.83. At the time of writing, Binance Coin traded at $22.58 US Dollars. At the same time, the Relative Strength Index (RSI) was observed at 46.96. The technical indicator rose to 83.26 in the afternoon, which means that the cryptocurrency was overbought at the time.
The 20-Day Exponential Moving Average (20EMA) closed at $22.54, while the 50-Day Moving Average (50MA) was observed at $22.59 at the time of closure.
What to expect from Binance Coin price?
Aminima is a Trading View analyst who is of the opinion that the BNB price will rise toward the $25 mark next.
Binance Coin price chart by Trading View
The Moving Average Convergence Divergence (MACD) technical indicator shows a bullish continuation for the BNBUSD pair. The cryptocurrency had been accumulating between the $14.5 and $20 marks ever since the price rose past the $15 mark in April 2020. Recently, BNB price has tested the resistance near the $23 mark, and the analyst believes that the cryptocurrency will rise above this resistance and move between the $25 to $27 range.
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.