Binance coin has been a runner recently and is in strong bull trend while moving 250%+ against USD at the time of writing but will binance coin rise more? Binance launchpad for ICOs and exchange coin's strong use-case has been doing well for the coin's price and bnb forecast.
If we look at the binance coin forecast analysis today then we might see a slight correction downward in the coming days which might provide an opportunity for late buyers to enter the asset for a long-term hold.
Let's look at binance coin technical analysis 2019 on its Daily-time frame chart.
We can touch the area around $18.18+ before making move downward to our first support level around $12.71-$13.24.
Further binance coin price analysis suggests that it has crossed the 200D- SMA (simple moving average) with bullish cross-over of 10 and 20 EMA (exponential average) followed by breaking above the Ichimoku cloud. These are quite healthy signs for the bulls.
MACD and Stoch-RSI indicator showing signs of weakness leading to a further downfall in the coming days but that doesn't make the pair strongly bearish.
Also, BNB coin paired against BTC(BNB/BTC) has broken its previous bull cycle(June 2018) high and made a new all-time high recently. It has yet to break it’s all-time high against USD i.e.$26.
Binance coin has been the top rising cryptocurrencies and is on the 7th position by market cap in the cryptocurrency market. Its future looks bright because of the development within the Binance exchange and strong use case of the coin in the space.
Note: The above references are for information and educational purposes only. It is not intended to be a piece of investment advice.
CoinSwitch.co is the world’s largest cryptocurrency exchange aggregator which supports 300+ coins and over 45,000+ pairs. It provides an easier way of trading through global exchanges like KuCoin, IDEX, Changelly, Cryptopia, ChangeNow and Changer without creating an account on them. If you are interested in buying cryptos, do give it a try!