Binance Coin Closed Yesterday Up 1.19%

The Hourly View for Binance Coin

• Currently, BNB’s price is up $0.26 (0.07%) from the hour prior.
• It’s been a feast for bulls operating on an hourly timeframe, as Binance Coin has now gone up 4 of the past 5 hours.
• If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
• Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them so that price is now turning above it. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Binance Coin’s hourly price chart is shown below.

The Daily View for Binance Coin

• Currently, BNB’s price is up $4.19 (1.19%) from the day prior.
• This is a reversal of the price action on the previous day, in which price moved down.
• Regarding the trend, note that the strongest trend exists on the 50 day timeframe.
• The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Below is a daily price chart of Binance Coin.

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