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Binance Coin Experiences a 3.41% Dip and May plunge to $321.66, Price Analysis

Binance Coin (BNB) Cryptocurrency News Price Analysis

At the time of writing, the trading price of Binance Coin (BNB) is worth $383.41 per BNB and the bears are currently controlling its trend. The data from CoinMarketCap shows that Binance Coin has experienced a 3.54% dip in its value in the past 24-hours. Due to the dip, the trading price of Binance Coin has come down to this point.

Past 7-day performance of Binance Coin

Even the past 7-day performance of Binance Coin has shown it has experienced a 5.53% price dip. On April 24, Binance Coin traded at a high price of $405 per BNB but the bears had something else installed for the bulls.

The bears initiated their strong selling spree for Binance Coin, which let them pull its price down to $384.71 per BNB. From there, the buyers again launched their counter, which brought Binance Coin back up to $406.54.

From there, Binance Coin again experienced the dip and came down due to another dip. This means that the investors are constantly demonstrating their interest in the positive/negative trends for Binance Coin.

Despite both struggling to push and pull Binance Coin, it is the bearish side that seems to be taking the lead. This is the reason why the price of Binance Coin has continued experiencing constant dips in the past 7-days.

Growth Factor Predictions

The RSI for Binance Coin is currently at 43.23 while the ultimate oscillator for Binance Coin is at 45.38. Then comes the summary scale for Binance Coin, which shows that 44.33% of the total investors want to sell Binance Coin, while 36.20% of the total investors are neutral.

The moving averages of Binance Coin are currently indicating strong-selling sprees ahead. All these factors moving in the negative zone mean that the price of Binance Coin may continue plunging.

Binance Coin’s Journey to $321.66

As all the growth factors are pointing toward a negative trend, it is just a matter of time before the investors may start selling more Binance Coin. This would result in forming another selling spree, pulling the price of Binance Coin even lower.

If the bears make an attempt to dip the price of Binance Coin and the bulls do not show much resistance, then the bears may continue dipping Binance Coin.

In the upcoming days, the sellers may try and pull the price of Binance Coin to a low of $361.26 per BNB with strong selling sentiments. The sellers may also intensify their selling spree to push out any bulls from the competition.

If things work out well in favor of the bears, then the trading price of Binance Coin may get pulled down to $321.66 per BNB.

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