Binance Coin price falls to $15.00: what’s next?

The Binance Coin price line experienced a bearish momentum on the 20th of April, where the price line declined to towards the $15.00 level. Sharp_As_A_Blade is a TradingView analyst who was of the opinion that the cryptocurrency would either see an uptrend across the $17.60 level, or form a head and shoulders pattern.

1-Day Binance Coin Price Analysis (20th April)

Binance Coin Price Chart

Binance Coin Price Chart by TradingView

The BNBUSD pair turned bearish just before midday on the 20th of April. The coin saw a day’s high of $16.4785836 US Dollars in the first quarter of the day. The cryptocurrency fell towards the $15.80 level near 12:00 GMT, after which it saw another fall towards the $15.40 mark near 18:00 GMT. BNB gradually made its way below the $15.00 level, where it saw a day’s low of $14.8836747 US Dollars. The BNBUSD pair closed with a trading value of $15.0648243 US Dollars.

Binance Coin: head and shoulders next?

The crypto analyst suggested that if the bulls supports the trading pair from the $16.6 mark, the cryptocurrency will continue its bullish momentum and head across the $17.60 level.

Binance Coin Featured Price Chart

Binance Coin Price Chart by TradingView

As per the idea, the cryptocurrency may have also managed to reach over the $20 mark if the former idea came into play. However, the analyst suggested that if the uptrend does not take place, the cryptocurrency will fall towards the $14.50 mark and may see to a completion of the head and shoulders pattern.

If the head and shoulders pattern is formed, the nearest support will lie above the $13.40 mark, while the second and stronger support will lie above the $12.70 level.

Featured Image by NikolayFrolochkin.

Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan holds no liability towards any investments based on the information provided on this page.

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