The Binance Coin price line saw a price correction towards the $17.5 level on the 15th of July. Sinao Sivand, a crypto analyst on TradingView, believes that BNB price will further fall towards the $17.23 mark before seeing an uptrend.
1-Day Binance Coin price analysis
Binance coin price Chart by Trading View
Binance Coin was priced at $17.52 US Dollars at the time of writing.
What to expect from the Binance Coin price?
Sparkster is a TradingView analyst who believes that the BNBUSD pair has broken above a descending trendline, and it is currently testing the resistance at the $18 mark.
Binance coin price Chart by Trading View
The analyst explained that the BNBUSD pair has consolidated for months after breaking above the descending trendline in May 2020. Now, the cryptocurrency has reached the resistance that lies near the $18 mark, and it is currently testing the resistance. If Binance Coin successfully moves past this resistance, then it is expected to see an uptrend.
Before reaching the resistance, the price had dropped towards the descending trendline, after which it found the support level again and moved towards testing the long-term horizontal level near $18.
The target price for this trade lies just above the $27 level. So, currently, Binance Coin is expected to move towards $27, after which it may ascend to $39.
BNB price correction to $17.23?
Sinao Sivand is another TradingView analyst who believed that the BNBUSD pair would see a price correction and move towards the $17.23 mark before seeing an uptrend.
Binance coin price Chart by Trading View
As stated in the idea, the price line has dropped towards the $17.5 mark on the 15th of July. This means that BNB has almost completed its price correction towards $17.23, and this idea is in play.
Furthermore, the analyst suggested that the cryptocurrency will see a rise in its price and move towards the $18.79 mark, which will be followed by three more target price levels: $19.47, $19.89, and $20.43.
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.
