The binance coin price gets to the $21 price level as it was observed yesterday during the trading session. The cryptocurrency traded within the $20.601 and $21.777 range but is right now accumulating close to the $21 mark while it is looking to break further of the purchase zone that it is currently into as per the latest binance coin news.
The cryptocurrency started the day trading at $20.75 USD and after that, the binance coin price gets to a new level thanks to its price movement leading it to the $21.20 level. The binance coin kept trading between the $21.20 and $20.40 levels for a while and after that, the price saw a bullish momentum towards the $21.80 level. The price later saw a new high of $21.78 USD which only lasted shortly since the price got down to $20.93. At the end of the day, the coin regained some more to its price to the $21.40 price level where it saw a closure at $21.40 USD.
Yesterday, March 6, the 20-day exponential moving average (EMA) was seen during the closing of the $21.077 mark while the 50-day Moving average (MA) was closed at the 20EMA which is about $21.080. The relative strength index also reached a daily high of 86.61 but it is now standing at 48.43. Binance Coin was ranked at the 9th position cryptocurrency as per the list of the top cryptocurrencies by market cap. Right now, Binance Coin has a market cap of $3,294,659,024 USD.
Previously, the most crucial thing here is that Binance Coin has fallen toa two-week support of the channel which indicates a potential retracement. If Binance Coin does not succeed in the retesting of the resistance area, a steep drop can trigger a huge dump. When we look at the 4-hour time frame, the BNB/USD pair is under a strong bearish radar with an ongoing huge sell. However, the bearish pressure should be exhausted any time now at the demand area of $18.3.
that the Binance coin has entered the buy zone and it will see an uptrend towards the $25 price point soon. The BernhardAnalyitics platform said that the cryptocurrency was sold at the previous standing of the coin close to the $25 mark which is supposed to be re-purchased. The upcoming price target for BNB/USD is $25.69.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com
Discussion about this post