The Binance Coin price line drops below the $15.80 mark on the 9th of March while showing ruffled price movements all over the day. The cryptocurrency trades with a day’s range of $16.4656899 — $17.0014640. ReiX is a trading view analyst who believes that the coin will exhibit a scalp play towards the $19.5 level.
1-Day Binance Coin Price Analysis (09th March)
The cryptocurrency began trade near the $17.00 mark on the 9th of March, after which it showed a series of falls and rises on until it saw a bearish momentum in the afternoon. The cryptocurrency slipped below the $15.80 mark and saw a day’s low of $15.6558 US Dollars. The coin saw retracement towards the $16.60 mark while it closed the day with a trading value of $16.5981 US Dollars. At the time of writing, Binance Coin trades at $16.6822112 US Dollars.
Binance Coin: predictive analysis
ReiX discussed how the Binance Coin has exhibited a full 0.786 retracement of the move, like other altcoins.
Reix is of the opinion that the cryptocurrency meets the criteria for a long scalp towards $19.5. In the chart above, the confluences include the trendline support, the 0.786 Fibonacci retracement level, and the RSI divergence that’s potentially bullish.
Featured Image by Curtis Thornton.
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.