Binance Coin (BNB) might have had a slow start to the year but did not deter the price from springing surprises at regular intervals. For the past 24 hours, the price trend indicates a bullish momentum even under the heavy volatile phase of the crypto market. Whether this trend will continue has to be observed in the coming days. The coin has been moving in the range of $21.42 – $22.61.
Binance Coin Price Analysis
BNB coin has a good day yesterday when it manages to move in the upward range for most of the day. The currency started at $22.6125 but went down below the baseline because of continual downswings and reached $21.4264 at 13:07 UTC, the downward momentum was to the tune of 5.22%.
From here, the price of Binance Coin managed a recovery at $21.9867 at 17:23 UTC. There was a mild setback at 21:12 UTC when the price of BNB price fell to $21.8793. The coin managed to outwit the bears when it again went up to $22.3043, showing an upward swing of 1.94%.
Today, the price of BNB coin is at $22.3392. Then, it has been trying to move out of the market volatility since the beginning of 2020. The past 24 hours have given some reason to smile for the investor community, with the price mostly moving in the higher range. Analysts expect Binance Coin to further stabilize by the course of the year.
Current investors should not despair and continue to hold on to their investments as the currency is expected to have great future potential. Day traders and short-term investors can continue to trade but should have a cautious approach to their trading decisions.