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Binance Coin price falls below $16.90

Binance Coin price falls below

The Binance Coin price line gradually fell on the 3rd of May, while it traded between the $16.70 and $17.80 levels over the daily chart. The BNBUSD pair fell by over 6.5% over the day.

1-Day Binance Coin Price Analysis (3rd May)

Binance Coin Price Chart

Binance Coin Price Chart by TradingView

The BNBUSD pair began to move downwards on the daily chart shortly after stepping on the price chart for the 3rd of May. The BNBUSD pair fell to the $17.00 level by 15:00 GMT, after which it traded above the $16.90 level until the end of the day.

The cryptocurrency closed the day’s trade with a price of $17.1069075 US Dollars, after which it rose a bit across the $17.20 mark before abrupt falling below the $16.80 level. At the time of writing, Binance Coin traded at $16.7898289 US Dollars.

Binance Coin: technical indicators

Binance Coin Price Featured Chart

Binance Coin Featured Price Chart by TradingView

The moving average technical indicators can be observed stepping their way down on the full-featured chart for the BNBUSD trading pair. The 20-Day Exponential Moving Average (EMA) closed at $16.8509882, while the 50-Day Moving Average (MA) closed at $16.9958562.

The Relative Strength Index (RSI) appeared bearish near 06:00 GMT, and then at 15:00 GMT, where the RSI had fallen below 23.30. This shows that the coin was mildly oversold at those instances. At the time of writing, the RSI stood at 33.36.

Featured Image by WorldSpectrum.

Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan holds no liability towards any investments based on the information provided on this page.

Taha Farooqui

Taha Farooqui

Taha specializes in copywriting & translating texts. He aims to cover cryptocurrencies & blockchain in both English and local dialects in the Middle Eastern regions. He has helped write, translate, and localize the material related to cryptocurrencies and blockchain.

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