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Binance Coin price treads below $16.30: what’s next?

Binance Coin price treads below what s next

The Binance Coin price line treaded past the $17.40 level on the 11th of June. Nas AlMutairi is a TradingView analyst who believes that the BNBUSD trading pair will see rise above the $80.00 mark. The cryptocurrency was observed trading within a day’s range of $16.11 — $17.60.

1-Day Binance Coin price analysis (11th June)

Binance Coin price chart 1 - 11JunBinance Coin Price Chart by Trading View

The cryptocurrency stood above the $17.20 level at the beginning of the day, after which it gradually moved towards the $17.40 mark. For the day’s highest, the cryptocurrency moved to a high of $17.60 US Dollars. After the first quarter of the 11th of June, the BNBUSD pair turned bearish, and it began to decline on the daily charts.

At the time of the fall, the Relative Strength Index (RSI) fell below 20.00. Near 16:45 GMT, the RSI indicator was at a low of 13.92. This shows that Binance Coin was oversold at the time.

In the afternoon of the day, the cryptocurrency turned extremely bearish, and it fell towards the $16.20 level. The cryptocurrency abruptly fell towards the target price after 15:00 GMT. At the time of writing, the BNBUSD pair was observed trading at $16.37 US Dollars.

Binance Coin price movement; what’s next?

Trading view analyst Nas AlMutairi drew a rising trend line for the BNBUSD pair on the charts. The crypto analyst suggests that the cryptocurrency should see an uptrend across the $80.00 mark.

Binance Coin price chart 2 - 11Jun

Binance Coin Price Chart by Trading View

On the chart above, BNB has moved down towards the rising trend line drawn. The cryptocurrency has hit bottom, and the analyst believes that it will move upwards next. The sell target that was suggested by NaS_ALmutairi is at $81.73 US Dollars.

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.

Johnson Go

Johnson Go

Blockchain enthusiast, project management specialist, writer and crypto investor. JG deals mostly with problems and solutions of crypto projects and provides market outlook for investments. He contributes his analytical skills to projects.

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