The price of Binance Coin has been steadily increasing since August 2017. The BNB price movement has been characterized by rapid increases and gradual decreases. On Apr 20, 2019, it made a high of 48,134 satoshis. The ensuing decrease took it to a low of 25,718 satoshis.

BNB Price: Trends and Highlights for July 4
- The BNB price is trading inside a significant support area.
- It is following a descending support line.
- There is a slight bullish divergence developing in the RSI.
- BNB is trading inside a short-term ascending channel.
- Short-term moving averages are turning bullish.
Binance Coin Price: Descending Support Line
Since reaching a low of 29,399 satoshis on March 3, the price has been following the descending support line outlined below.

Short-Term
The price of BNB is analyzed at two-hour intervals. The 10-, 20-, 100- and 200-hour MAs are added to the second graph.
In the short-term, the BNB price has been trading inside an ascending channel since touching the long-term support line on June 27.


Summary
The price of BNB has recently been decreasing until it reached a significant support area. It is currently trading inside an ascending channel. An analysis of technical indicators supports an increase towards the resistance line of the channel. Do you think the price of Binance Coin will begin to increase? Let us know in the comments below.Disclaimer: This article is not trading advice and should not be construed as such. Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile. Images are courtesy of Shutterstock, TradingView.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions.

Valdrin Tahiri
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing...
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing...
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