Binance Coin BNB price analysis: Bullish surge prospers near $21

Binance Coin BNB price saw a notable increase of around 5.9% yesterday, which continued into the 13th, and it is currently trading at $21.263. 

This bullish up-turn resulted in BNB becoming the most solid performing top-10 cryptocurrency over the past 24 hours. It is also up 16.3% over the last month, establishing itself as the seventh-largest digital currency with a market capitalization of 3.30 billion USD.

1-Day Binance Coin BNB Price Chart (BNB/USD)

binance bnb price chart 2

Binance Coin BNB Price Chart by Trading View

The Binance Coin was able to climb beyond the resistance at $21.05, which is presented by the 100-day Exponential Moving Average (EMA). It presently faces critical resistance at the 200-day EMA, which rests immediately above.

From the top: The closest area of resistance is at the 200-day EMA. Beyond this, resistance is set at $22, $22.75, $23.46, $24.15, and $24.53. In case the bulls recommence above $25, resistance is positioned at $25.19, $26, $26.65, and $27.46.

From the bottom: The closest area of support is at $21. Below this, support can be anticipated at $20.91, $20.1, $19.8, $18.85, and $18.18. If the trading proceeds below $18, support lies at $17.3, $16.1, and $15.5.

The trading volume has sustained itself rather high during this month.

The Relative Strength Index consistently rests close to the 50-mark, thus indicating that the bulls prevail their control over the market impulse. The Stochastic Relative Strength Index has given a crossover sign for the bulls lately, which is a definite positive.

As indicated by the graph above, the price closed at $21.53, with the SMA and the EMA closing at $21.448 and $21.488, respectively.

Featured Image by Flickr

Leave a Comment