Binance Coin BNB price analysis: November 4, 2019

With the volatile end to the previous week, Binance Coin BNB price charts indicated a massive drop leading to a steady rise as the day started reaching today’s high of $20.7444 with further progressions (and regressions)  mainly hovering above the baseline.

1 Day Binance Coin BNB price analysis (BNB/USDT)

Binance BNB Price Analysis

Binance Coin BNB price chart by Trading View

As per the graph indicated above, the day’s average is $20.3408. Following the day’s initial activities which were occurring under the baseline, the altcoin price has picked up its momentum and remains close to this indicated baseline. These results suggest that the bulls are attempting to push the price upwards,  but a definitive pattern cannot be established until the end of this week.

However, the conditions seem favourable. The prediction of the bullish surge to $32 is still probable with the patterns indicated below.

Binance BNB Price Analysis

Binance Coin BNB price chart by Trading View

With a current market cap of nearly $3.2B and trading volumes rounding up to $257.663M, the Binance Coin BNB price charts indicate the 50-day Simple Moving Average (SMA) having fallen from its peak of $20.6042 to $20.3150 over the support zone only to pick up velocity to a current value of $20.4678.

The 20-day Exponential Moving Average (EMA) indicates a similar pattern of such a rise and fall, peaking at $20.6442 and falling to $20.2965 over the support to now close at $20.3930.

The Relative Strength Index indicates a value of 26.27 predicted to increase as the day progresses.

Featured Image by Freepik

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