The Binance coin price is trading at $28.39 (-2.75%) on October 01, 2020. It seems that BNB price is once again trying to touch the $30 mark. Binance coin was one of the best performing altcoins in September. In the last 30 days, the Binance coin price has increased by almost +15.6%. It seems that now it is trying to touch the $30 mark. Let’s take a look at it in more detail.
In the daily chart, the Binance coin price has slightly managed to gain after jumping from an overextended RSI and rising above the 50-MA, the 100-MA, and the 200-MA. The next most crucial resistance level could be $29.31. The daily MACD is slightly bullish again and these could be the positive signs for the Binance coin price.
The key metrics are as follows:
The BNB/USD 4 hr Parabolic SAR chart looks promising and displaying a good upwardly sloping pattern. We can see that some dots have formed below and above the price and are climbing in an upwardly sloping pattern, this could suggest an uptrend for Binance coin price.
We must remember that the dots that rise above price and are slumping in a declined sloping pattern then it could be a downtrend. So, at the moment, the BNB price is showing an uptrend.
Now, if we observe the weekly Parabolic SAR, then we will find that the dots have formed between the $5.68 to $19.65 price range. Despite the recent decline in the Binance coin price, it remains remarkably strong on the weekly chart as the weekly uptrend is sound. Bulls succeeded to defend the $23 support level where the 12-EMA is.
Now, the thing with the SAR is that it could reverse once the price reaches its level. Hence, if SAR is further from price, withdrawal in the indicator is less expected. So, right now, the SAR is too far from the current Binance coin price, which could indicate that the BNB/USD price could increase in the next few days. So this could be a positive sign for the BNB price. We wish you happy trading!
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