Binance Coin BNB price traces path above baseline of $19.8

With the sudden save from volatility for the entire crypto-world, Binance Coin BNB price seems to be celebrating this turn of events as it continues to rise above its falls.

Now trading above the baseline in continued surges upward, it appears the bulls have picked up their momentum to reclaim the throne from the bears.

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

Binance BNB Price Analysis Graph 1

Binance Coin BNB Price Chart by Trading View

On Sunday, the 10th of November, the price of Binance Coin ranged between $19.70 and $20.53, with a low of $19.67 and a high of $20.63. The baseline average is set at $19.75, and the chart showcases that trading has majorly occurred above this value. This is a monumental moment for the bulls as they regain control of the market. The surge continued its way into the next day with slight drops, but nothing considered to be too significant.

Technical Indicators

Binance BNB Price Analysis Graph 2

Binance Coin BNB Price Chart by Trading View

The support zones indicated in red helped become the force the bulls needed to soar upwards. The Binance price seems to move to its next expected resistance levels as this is being written.

As indicated above, the price of the cryptocurrency closed at $20.5 to continue its bullish path upwards into the 11th. The Relative Strength Index (RSI) closed at a value of 57.43 and traced a comparable path upwards. The momentum followed suit closing at +0.04. All of these showcase a bullish move. 

The Simple Moving Average of 50-days closed at $20.47, whereas the Exponential Moving Average of 20-days closed at $20.46. Each of these indicators traced the path of the price movements as displayed on the graph above.

Featured Image by Flickr



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