Binance Coin price rises above $20.1, what’s next?

Binance Coin price rises above $20.1, what’s next?

The Binance Coin price line rose above the $20.1 level on the 30th of July, while the cryptocurrency traded within the day’s range of $19.54 to $20.13.

1-Day Binance Coin price analysis

Binance Coin price chart 1 - 30 July

Binance Coin price chart by Trading View

The BNB price line stood just above the $19.70 mark at the beginning of the 30th of July. The cryptocurrency’s price gradually moved between the $19.50 to $19.80 range in the afternoon.

After 18:00 GMT, BNB experienced a bullish momentum, and the price moved towards the $20.10 mark. At the time of writing, Binance Coin traded at $19.99 US Dollars.

What’s next for Binance Coin price?

The Trading View analyst Peyman RMI suggested that the BNBUSD trading pair will see an uptrend across the $24 level.

Binance Coin price chart 2 - 30 July

Binance Coin price chart by Trading View

The analyst highlighted a possible wave correction that would lead the BNBUSD pair towards the $24.1 level. The cryptocurrency has been trading inside an ascending parallel channel that can be observed in the chart above. The trajectory for BNB is shown below the midpoint for the ascending parallel channel, while the fifth wave correction is expected to move the cryptocurrency’s price above the midpoint of the parallel trading channel.

If this idea comes into play, Binance Coin’s price should rise towards the resistance that lies at the $24.19 mark, and the rise may allow BNB price a chance to break above the ascending parallel channel. An upwards breakout of the ascending parallel channel will turn the cryptocurrency bullish.

  • Bitcoin
  • Ethereum
  • Litecoin
  • Zcash
Scan to Donate Bitcoin to bc1qcc3xajxvdqjnx2f7j7sfcfun7jagr0nh94fa2e

Donate Bitcoin to this address

Scan the QR code or copy the address below into your wallet to send some Bitcoin

Scan to Donate Ethereum to 0x704671D7591d05Dd0790E86Aee964558E9347b07

Donate Ethereum to this address

Scan the QR code or copy the address below into your wallet to send some Ethereum

Scan to Donate Litecoin to ltc1q7tj9ydra9ylkelu42vypp6cu2v0msf5lc2p5mq

Donate Litecoin to this address

Scan the QR code or copy the address below into your wallet to send some Litecoin

Scan to Donate Zcash to t1LiPaQ7gsSL23FbjXswpSoguP6yAE1xj5B

Donate Zcash to this address

Scan the QR code or copy the address below into your wallet to send some Zcash

 84 Interactions,  2 today

Crypto & Finance News