Binance Coin, investors, and traders are facing a flat trend since yesterday as the coin continues to trade around similar price mark, with cent change. There is no superficial intraday movement by the BNB price that may gain bountifully. Although this seems to be the calm before the storm as BNB coin has enough potential to trade with greater numbers in the future.
- Binance Coin moves with a flattening trend.
- BNB continues to trade around $28 with no major ups and downs.
BNB to USD Price Chart by TradingView:
The below chart is a data feed by Binance as on August 20 at 05:24 UTC.
BNB Price Comparison:
Tracing the intraday movement, yesterday the Binance coin opened with a price mark of $27.95 and closed with a slight growth of 3% it closed the day around $28.81. In the past 24 hours, the coin has topped as high as $29.33. However, today the coin is exhibiting a flattening trend since the start of the day. With this coin is ranked at 6th position in the crypto market and fetches >9000% Return on Investment with its current trading BNB price being $28.54. The market cap of the price of Binance is nearing around $4.5 million and the BNB coin makes its position amongst the top 10 coins of the market.
The current trading price ($28.54) of the coin is 3.08% and 7.78% less than its 50-day SMA ($29.45) and 100-day SMA ($30.95)
The current trading price of BNB is ought to face 0.00% Fib resistance at $29.343, which is the coin’s 24-hour high price.
The MACD of the coin seems to have taken a bearish turn just now as the signal line seems to overpower the MACD line which shows a selling pressure as per the concerned Moving Average.
The RSI of the coin is slightly above 50, which shows no extremities or intense volatility at present.
1- Do not invest in every ICO – most of them are a scam.
2- Crypto is a heavily manipulated commodity and the price can change at any moment.
3- The creation cost of a coin represents the “wholesale” price – It is always better to buy when the price is close to the creation cost.
4- Crypto has a natural cash flow that dictates the selling pressure. Like, 1800 bitcoins are mine each day so 1800 bitcoin must be bought at the current price (“means market needs new $18 millions of investment every day if the price is $10,000 to maintain the current price“).
5- Patience and timing are key to making a profit:
Buy, when the price is close to the creation cost.
Sell, when the price is way high off the creation cost.