On March 19, 2019, BeInCrypto published a review of the Binance exchange to compliment our regular analysis of Binance Coin (BNB). You can check out the review here or keep reading for our honest and transparent BNB price predictions for March 20, 2019 below.
On Mar 7, 2019, the price of Binance Coin reached a high of nearly $16. A sharp drop followed. BNB has been on a gradual uptrend since. It made another high above $16 on Mar 17.
Here is the market outlook from Mar 7 to Mar 20:
BNB: Trends and Highlights for March 20, 2019
- The price of Binance Coin has been on a gradual uptrend since Mar 8.
- It recently broke down from an ascending wedge.
- The breakdown was preceded by a sell signal created by the MACD and SMAs.
- There is resistance near $17.
- There are support areas near $14.50 and $11.
Ascending Support
The price of BNB on Binance is analyzed at one-hour intervals from Mar 7 to Mar 20. The price made a low of $13.84 on Mar 8. Since, it has been on a gradual uptrend, completing several market cycles. Each low has been higher than the previous one. Tracing these lows gives us an ascending support line.Ascending Wedge
The price of BNB made a high of $15.86 on Mar 7. A rapid drop ensued followed by a gradual rise. The price has made higher highs during this rise—culminating at $16.33 on Mar 17. Tracing these highs gives us an ascending resistance line.Signal Triggered
The moving average convergence divergence (MACD) is a trend indicator that shows the relationship between two moving averages (long and short-term) and the price. It is used to measure the strength of a move. Combined with simple moving averages (SMA), MACD can be used as a trigger for buy and sell signals. Signals are triggered whenever the MACD line is above 0 and the price is above the 21 (red) and 50-period (green) SMAs.
Future Movements
The price of BNB on Binance is analyzed at 12-hour intervals from Jun 1, 2018 to Mar 15, 2019 in order to better visualize possible reversal areas.Summary of Analysis
Based on this analysis, the price is likely to continue dropping until it creates new resistance and support areas. If it keeps dropping, the prediction will be partially validated. If it initially increases to touch the support line then falls, it will be fully validated. A breakout above the resistance line would invalidate our prediction. Where do you think the downtrend for Binance Coin will stop? Let us know your thoughts 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.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. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

Valdrin Tahiri
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.
(I do not have a discord and will not contact you first there. Beware of scammers)
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.
(I do not have a discord and will not contact you first there. Beware of scammers)
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