The Binance Coin price line shows retracement across the $22.20 mark. The price peaked above the $22.80 level after stepping onto the price chart for the 21st of February with a bullish momentum from the previous day.
The cryptocurrency eventually came to a rest near the $22 mark after varying above the $22.20 level at the end of the day. The day saw a trading range of $21.7071020 — $22.9552922 for Binance Coin.
1-Day Binance Coin Price Analysis (21st February)
The price line can be seen tracing over the price chart for the 21st of February, with ruffled price movements. The coin saw a bullish momentum before it entered the day’s chart. The bullish momentum continued with the new date and it led the coin across the $22.80 mark after it came rushing back below the $22.00 level.
The cryptocurrency showed a continued disheveled price trend above the $22.20 mark until it reached the day’s closing value of $21.9742050.
Binance Coin: Predictive Analysis
At the end of the day, the Relative Strength Index (RSI) can be seen converging below level 30.00 on the scale. The RSI has a closing value of 24.01.
The 20-Day Exponential Moving Average (EMA) was observed closing at $22.1035370, while at the same time, the 50-Day Moving Average (MA) was placed at $22.1692618.
As per a predictive analysis made by the trading view analyst hardyforky, the cryptocurrency is expected to go bullish, with its next initial target as $23.6 and a potential mid-term of $29. The coin seems to be following Bitcoin.
Featured Image by Joanna Kosinska.
Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan holds no liability towards any investments based on the information provided on this page.