Binance Coin (BNB) Reflects 6% Escalation Overnight

Binance Coin as astounded the traders by escalating during the bearish market. All the top guns, including Bitcoin, Ethereum, Ripple, Litecoin, etc. are dribbling due to the heavy market pressure. However, BNB coin is dealing with the bullish trend.

The traders are at ease to see the currency improving. The current market cap of Binance Coin is at $3,820,748,098, and the 24hr volume is at $680,549,051.

Binance Coin Price Analysis

Binance Coin was trading at $22.87 on February 09. The escalation brought the price to $23.60 by 7.91% in the next 4 hours. Then, the currency locked itself at the same level till 07:30 UTC. From this level, the BNB price dropped to $22.80 by a marginal fall of 2.67%. Later, Binance Coin kept the price range intact for a while, and then, it escalated once again to $24.06 by 5.37% at 17:11 UTC. After this hike, the currency again found hovering at the same level and this time around $23.90. The closing hour took the price of Binance Coin to $24.36 by 1.95%. The intraday movement reflected 11.29% progression.

Today, BNB coin exhibited a moderate price plunge in the opening hour. The price counter touched $23.50 by 4.10% drop. The price recovered in the later hour to $25.73 by 10.38% hike. The price dropped to $24.22 by 5.22%. As per the MACD indicator, the MACD line and the signal line intersected recently and the signal line overpowered the MACD line. Then, the Binance Coin is exhibiting price improvement which is anticipated to continue for the next few hours.

At the time of writing this article, the currency was trading at $24.46. The next few hours are likely to take the price to the immediate resistance level at $25.16.

R1: $25.16 R2: $26.02 and R3: $27.72

S1: $22.6, S2: $20.9 and S3: $20.04