Binance Coin BNB Price: Declines by 5.3%

Binance Coin BNB price has showcased a decline in price over the 10th of December after falling to its support zone at $15.07, which resulted in a further reduction as the day eventually came to its close. 

Binance has been undergoing severe bearish pressure over the past week, which has resulted in a decline in price. Compared to the day before, the coin has suffered blows by falling by another five percent over merely twenty-four hours from $15.45 to $14.65.

Binance Coin BNB Price Analysis – 10th December (BNB/USD)

Binance Coin BNB Price Analysis Dec 10 Chart 1

Binance Coin BNB Price Chart by Trading View

As showcased by the graph above, the Binance Coin initiated the day from the previous day’s close at $15.45. The coin continued to trace the price pathway to fall to the $15.16 support, which did not aid the bulls in garnering any momentum. Instead, the currency reached the next consecutive support zone at the $15.06 mark. In doing so, the currency regressed further, which ultimately led t0 the coin closing at the $14.65 mark.

Technical Indicators

Binance Coin BNB Price Analysis Dec 10 Chart 2

Binance Coin BNB Price Chart by Trading View

As shown by the full-featured chart above, the price has not differed significantly from the moving averages, which aim to show that the price has been showing a decline in the long and medium-terms. The 50-Day Simple Moving Average (SMA) closed at $14.64, and the 20-Day Exponential Moving Average (EMA) closed at $14.65.

The Relative Strength Index (RSI) closed at 49.64, which is not entirely bullish or bearish but instead awaits further movement.

Featured Image Background by Thomas Q

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