Binance Coin price has been marred by the bearish strike that happened yesterday. Over the last 24 hours, it has been dropped by a huge 3.89% with three massive price variations. BNB coin price may soon seek shelter at the support point.
The currency was being traded at $18.095 at the opening hours of the day, and in the next 7 hours, the price got increased by 1.39% to touch $18.34. It was followed by a 4.49% contraction in the value, and this swing pulled the BNB price down to $17.523 by 13:41 UTC. The last swing happened between 14:09 & 02:08 UTC today. And in these 12 hours, Binance Coin’s price got slackened by another 1.94% and got down to the abysmal $17.36.
BNB/USD Price Chart
A similar pattern was seen in the market cap as well. Yesterday, the market cap stood tall at 2.768 billion USD, and over the last 24 hours, it has been reduced to 2.717 billion USD.
BNB’s current price is lagging behind its short-term moving averages viz. 20 days and 50 days. And this placement hints at more bearish strikes in the coming few days. As per Trade99’s analysts, the currency may soon seek support at $17.16. Intraday traders may see huge volatility in the upcoming days.