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Binance Coin (BNB) News

Binance Coin (BNB) Plunges to $16.6 in 24-Hour Price Movement

The cryptocurrencies are under the bearish influence for a couple of days. The first ten days have already passed, and till today, Binance Coin is reflecting downtrend. Yesterday, the coin spotted heavy improvement and touched $17.4, but soon there was a pullback pressure that made the BNB price drop to $16.4. The upcoming hours are not reflecting any opportunity for improvement. The regressive move is likely to continue and end the day at a lower level.

Binance Coin Price Analysis

Binance Coin Price News

Binance Coin’s price was at $16.61 during the initial hour on March 10. In the next 1 hour, the price escalated to $16.98 by 2.22% but later slipped to $16.41 with a spike at $16.72. Then, the BNB coin reflected moderate recovery and jumped to $16.94 at 05:30 UTC but couldn’t stay for long and fell to $16.58. The price hovered at the same level for a while but later escalated to $17.43 by 5.29% hike.

After reaching this high, Binance Coin was followed by a heavy plunge that brought the price to $16.37. There was a moderate recovery spotted that brought the price to $17.20. However, the BNB coin price dropped to $16.80. With ups and downs, the currency managed to book an upsurge of 1.13% on the intraday chart.

Today, BNB Coin started on a recovery mode but later dribbled to $16.60 from $17.11 by 2.95% fall. The MACD chart is reflecting a slight bullish divergence. If we look at the short-term price movement, the coin seems to be tilted towards the immediate support level at $16.4. It seems like it would breach at any minute now.

Carolyn Conrad

Carolyn Conrad has recently joined CryptoLighty news reporting team as a full-time reporter. She has been curating and writing for leading cryptocurrencies from last five years. She holds post graduate diploma in finance. She also holds year long experience in digital print media.

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