Binance Coin Price Analysis 2019 - What makes BNB the Hottest Coin

CoinSwitch | 19 March, 2019 | 2 min

#1 Key Highlights

  • Following uptrend channel since December' 2018 and moved 250%+ against USD pair.
  • Trading above 200D-SMAs and Ichimoku cloud.
  • Bearish(sell signal) signs indicate slight correction ahead.
  • Correction downward can provide an opportunity to buy the asset for the long-term.

#2 BINANCE [BNB] Price Analysis – Daily Chart BNB/USD

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.

  • Interested buyers can look for first buy zone(green bar) around $12.71-$13.24 to enter the asset for mid-term hold.
  • If the first support level doesn't hold then one can look around $10.88-$10.72-$11.25 to set their bids for a safer entry.
  • There is also a rare possibility of breaking price level $18.18+(dotted red line) and retesting the area without even reaching our First support level (buy zone). If this happens then one can enter only after $18.18 price level is held on a retest.
  • Sellers can look for areas at resistances around $20.60-22.14 (short term-midterm) and $28(long-term).
  • Breaking down below the last support area around $8-$9 would be bearish(sell signal) for the asset a holding the asset would be painful.

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.

#3 Conclusion All-Time

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.

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