Binance Coin Rises To $20 Price Point: What’s Next For The Altcoin?

The Binance coin rises to $20 price point after the uptrend seen on the price charts for the start of March. The bullish price movement was seen as a gradual upward to the movement over the 24-hour charts. As per the analysis, the altcoin’s next price target will wait at the $25.00 and the BNB/USD pair is right into the buyers’ zone so let’s see more in the binance coin news.

The binance coin rises with a trading value below the $18.80 at the start of the day. The price can be seen increasing on the charts as the day went by. The uptrend observed at the start of this month is successive and gradual in nature so the BNB/USD pair traded with a day’s range of $19.5542844 to $20.0562064 and reached a daily high of $20.1121 at the end of the day. The 20-day Exponential moving average closed at $19.75 while the 50-Day moving average closed at $19.74. In the meantime, the Relative Strenght Index reached 59.72 so the BNB/USD pair traded at $19.74.

The cryptoanalysis show 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.

As per the recent news, Binance Coin price fell by 10.44% against the US Dollar in only less than 24 hours, while at the same time trading about $19 at the time of writing. The price experienced a fall below mid-term diagonal support. Binance Coin BNB fell below a psychologically important level of $20 to $18.3.

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.