Binance Coin price sees recovery to $24

After its downward trip from the $26.00 mark, Binance Coin price approaches $24 after finding major support at $22. BNBUSD showed overextension of price between the 8th and the 12th of February, after which it returned to the mean.

The coin was in search of support between the $21.50 and $22 marks, and currently, the price has reversed to the $24 level after escaping the wick of the bearish candle.

1-Day Binance Coin price analysis (18th February)

Binance Coin Price Chart

Binance Coin Price Chart by TradingView

The selling pressure had continued for BNB after it made its trip down to the $21 level on the 17th of February. As seen on the price chart above, the cryptocurrency has made its way out of the bearish momentum and has recovered some price to reach the $24.00 mark. The coin trades with a day’s range of $23.8107692 — $24.4750921. 

The BNBUSD pair rose across the $24.00 mark, after which the cryptocurrency’s price line can be seen varying between the $23.80 and $24.40 ranges, respectively. At the time of writing, BNB trades at $24.0648510 US Dollars.

Binance Coin: Technical Indicators

Binance Coin Featured Chart

Binance Coin Featured Price Chart by TradingView

The Relative Strength Index (RSI) can be seen steering below the level 50.00 to reach its current standing value of 39.95. The RSI had also reached a low of 19.41 near 09:00 GMT.

As for the remaining technical indicators, at the time of writing, the 20-Day Exponential Moving Average (EMA) is placed at $24.0187733, whereas the 50-Day Moving Average (MA) is observed at $24.1116373.

Featured Image by Chris Biron.

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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