The last 24 hours’ trend of Binance Coin has witnessed a considerable amount of price decline. The currency is now being traded at $14.526 after a 3.47% price deduction in this period. It may have to seek shelter at the next support point as no quick recovery seems possible.
Binance Coin Price Analysis:
BNB coin opened the day at $15.049, and by 00:58 UTC, it was at its peak of $15.33. From there, the coin started trading downwards. Over the next 13 hours, Binance Coin lost 4.50% value and found itself at $14.646. The next variation was another set of price contraction. This happened between 14:24 and 20:23 UTC. Over these 6 hours, BNB’s price subsided by another 3.90% to find itself at $14.193. However, at 20:23 UTC, the currency started gaining momentum. By 02:16 UTC today, the momentum could raise the value by 2.63% and pushed the price to $14.567. The current price has been roaming around $14.52.
Binance Coin’s current price is dealing above its 50 days MA ($14.515). However, it is still lagging behind the 20 days MA ($14.536) by a decent margin. This placement of the values hints at the continuation of the struggle for the currency. It may soon have to seek the support of $14.21. Investors are advised not to be bogged down by the selling pressure, as a price recovery seems likely in the medium-term.