Binance Coin technical analysis: BNB riding a bearish wave
The crypto market which gave hopes of recovery yesterday has found itself in a bearish channel yet again. Most cryptocurrencies are trading in red. XRP is the sole crypto trading in green amidst the top ten cryptocurrencies. Binance Coin [BNB] is exhibiting a 5% loss in the market and is riding a strong bearish wave.
BNB prices are struggling to break free from the bearish channel. The coin has plummeted steadily consulting the BNB charts. The coin has breached its critical mark traced at $7.85 and has started to trade around $7.7. The coin prices have dropped without support today. The RSI levels indicate that the coin was oversold for a brief period during the day and are still close to being oversold. The MACD signifies a strong bearish momentum for the prices. The coin is currently exchanging hands at $7.66 and is falling by 5%.
BNB is currently losing against BTC by 4.02%. At press time, one BNB is equivalent to 0.00138207 BTC.
BNB Price Prediction
- According to Cryptoground, the token is expected to reach $15.6 in one year. The five-year forecast for the coin is set at $37.7.
- Tradingbeasts has predicted that the crypto will hit $20.6 by the end of this year. By 2020, the virtual currency is expected to trade within the $43.4-$63.8 range.
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