- Binance Coin price finds support for $27.
- Binance Coin likely to follow the market trend to retrace backwards.
- Bollingers Band shows extreme volatiliy despite uptrend.
The Binance Coin price stooped below the $27 mark on the 19th of September, after observing a series of price fluctuations over the 24-hour trade. The coin traded between the levels $26.60 and $28 over the day.
Brandon Gallegos is a Trading View analyst is of the opinion that the BNB price line will observe a pullback ahead, which will be followed by an uptrend towards the $27.2 resistance level.
1-Day Binance Coin price analysis
The price line peaked at a day’s high of $27.98 US Dollars on the 18th of September. Just before the closure of the day’s trade, the BNB price trajectory fell to a low of $26.65. The cryptocurrency was observed trading at $27.12 US Dollars on Binance at the time of writing.
Binance Coin trades above $26
Trading View analyst Forecast City believes that the BNB price line will rise towards the $29 level after breaking bouncing above the support below the $20.8 target price.
The Relative Strength Index (RSI) was marked near 41.32, which means the cryptocurrency was neither oversold nor overbought and it stood in the neutral region. The price line met all the target prices mentioned in the trade after it came into play.
Currently, the price holds above the $26.58 target level. The stop-loss order was marked below $18.80. At the time of publishing, the 21-day Exponential Moving Average acted as the dynamic resistance for the cryptocurrency.
What to expect from Binance Coin’s price?
The Trading View analyst Brandon Gallegos is of the opinion that the BNB price line will see a pullback towards the $21 level soon. The analyst drew their analysis on the 1-day chart for the BNBUSD trading pair.
The BNB price line is expected to observe a pullback towards the $21 mark soon as the cryptocurrency is currently testing the $27.25 resistance. The pullback will draw the price line towards $21, which will be followed by another rise towards the $27 resistance. A strong support level lies near the $21 mark. In the long-term, this trade remains bullish for Binance Coin.
Binance Coin technical indicators
The Bollinger Bands observed increased expansion right after the 19th of September began. The BNB price showed higher fluctuations, which means that the volatility was considerably high during that time. At the same time, the cryptocurrency moved towards the $28 level where it approached the highest value of the day.
Here, the coin exhibited an abrupt increase in its price of up to $1.2 US Dollars. The Bollinger Bands depicted a decrease in price volatility over the rest of the day’s trade. The Moving Average Convergence Divergence (MACD) technical indicator depicted a buy signal before the abrupt increase in the cryptocurrency’s price at 23:45 GMT on the 18th of September. The histogram was decreasing in the positive region near the time of writing, while the signal line was crossed by the MACD line.
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