Binance Coin BNB Price: 0.98% decrease

Binance Coin BNB price has been moving towards stability as it shed its loss by a large extent, and in doing so, managed to hover beyond the $15 line.

The price might potentially accelerate, headed to the $16 mark with the next resistance anticipated to lie around the $15.65 mark.

Binance Coin BNB Price – 5th December (BNB/USD)

Binance Coin BNB Price Analysis Dec 5 Chart 1

Binance Coin BNB Price Chart by Trading View

The cryptocurrency has displayed a decrease of over 0.98 percent over the past twenty-four hours. The price currently rests at the $15.2 mark. As the graphs indicate, there have been significant differences in price between the $16 and $14.6 ranges. These variations occurred all in one day.

The cryptocurrency initiated the day at the $15.25 level and over the succeeding eight hours, it was reduced by $0.38 to attain the $14.87 holding, which was its lowest price for the 5th. The currency was supported by movement from the bulls at around 08:15 GMT which surged the price to the $16.0 mark. The final development occurred within twelve hours whereby the coin lost $1.21 in value and in doing so, the price reached $14.79.

Technical Indicators

Binance Coin BNB Price Analysis Dec 5 Chart 2

Binance Coin BNB Price Chart by Trading View

On the 4th of December, the market capitalization for Binance was $2.37B which fell to $2.35B over the next twenty-four hours. The market capitalization has decreased continuously over the past seven days with the exception of a single day.

The 20-Day Simple Moving Average stood at $15.07 at the time of writing with the 50-Day Simple Moving Average at $14.99. The Simple Moving Average closed at a value of $14.46. The closing price was 0.12% higher than this value and the current price is 1.8 percent lower than this value. The currency might experience some bullish momentum, therefore, traders are urged to anticipate the right time to sell. The next pause for the currency may appear at $15.6 as a resistance mark.

The next key resistance marks lie at $15.64, $16 and $16.32. On the contrary, the next support marks lie at the $14.96, $14.64 and $14.28.

Featured Image Background by Thomas Stephan

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