- Binance Coin forms an inverse U on the intraday chart
- The anticipations about the closing are not favourable
The currencies in the crypto market are quite volatile. Binance Coin usually walks as per the trend but there are times when the coin falls flat amidst the recovering market. Today, Binance Coin began dealing with an impressive momentum but in the recent hours the price came down. The current situation is not admirable, and the rest of the day is also anticipated to be boring. The coin has a great potential and thus recommended for long-term traders.
The last couple of months for BNB coin have been great. The same spiked hope among the traders. The first quarter is likely to be great for the traders. The short-term period is also anticipated to give good returns.
BNB/USD Price Chart:
Yesterday, Binance Coin was trading at $19.93 during the opening hour. After a slight plunge during the opening period, the coin immediately improved from $19.59 to $19.91. The price hovered around the same level till 03:25 UTC and later it was spotted dribbling to $19.61 by 1.64%. BNB coin price soon exhibited improvement and escalated to $20.38, but couldn’t hold it for long and fell to $19.64. The price spiked to $19.94 and again dribbled this time the price counter to which it stopped was $19.36. The closing hour experienced an improvement that took the coin to $19.72.
Today, the coin started dealing at $19.72 and started price correction from that moment. The escalation took Binance Coin to $20.23 just to experience a pullback to $19.70.
The signal line is about to overlap the MACD line and thus creating a bearish crossover. The recent fall that has brought Binance Coin back from where it started the day.