Binance Coin price returns to $20.8, move to $24 next?

On the 13th of August, the Binance Coin price line rose returned above the $21.8 level after it fell short below the $20.8 mark. The cryptocurrency traded between the $20.6 and $22.0 levels for the day.

1-Day Binance Coin price analysis

Binance Coin price chart by Trading View

The cryptocurrency was priced near the $21.4 level at the beginning of the 13th of August. By 09:00 GMT, the price line had fallen to a day’s low of $20.63, after which it gradually ascended past the $21.8 mark before closing the day’s trade. At the time of writing, BNB traded at $21.47 US Dollars, while it closed the daily trade at a price of $21.87 US Dollars, which was also the day’s highest for Binance Coin.

The 20-Day Moving Average (20EMA) closed at $21.47, while the 50-Day Moving Average (50MA) was observed at the $21.47 level at the same time.

At the time of writing, the Relative Strength Index (RSI) stood at 39.84. At 17:17 GMT, the RSI was seen at 82.28, which means that Binance Coin was overbought at the time.

Will Binance Coin rise to $24?

David Iskak is a Trading View analyst who believes that the BNBUSD pair will rise towards the $24 mark.

Binance Coin price chart by Trading View

In their analysis, the David drew a path that they expect the BNBUSD trading pair to follow so that it may rise towards the $24 level. The idea is yet to come into play. Ever since the idea was posted, the cryptocurrency’s price line observed a bearish candle on the 1-Day chart for the 13th of August.

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