Binance coin is back in the race now as the coin has started a reliable uptrend today. It is to be noted that Bitcoin, which is still strolling around the $5900 price mark, BNB has price has shot up above $12.
According to our BNB forecast and analysis, the coin is anticipated to reach as high as $15 this week, which is largely dependent upon market bulls. The crypto market, just like every other market right now, is experiencing a bumpy ride.
BNB Recovers After Testing $11.25 Support
Yesterday, BNB coin closed on a bearish note, and it tested support level at $11.25. After consolidating for an hour, it started taking bullish strides. The coin has risen by 7.31% over less than a half-day today and is still moving upwards.
Yesterday, when the coin saw an opening, BNB’s price stood at $12.19. After a hefty decline, the coin has recovered above $12.14 today, recovering most of yesterday’s losses. However, the coin is still carrying a selling pressure.
Meanwhile, the MACD is in a positive zone; RSI is approaching the overbought phase. Moving averages of the Binance Coin are bullish as the short term SMA line is on the upside. Moreover, the 200-day EMA line is below the price trend noting a positive signal.
