After resting near the $24 mark for most of the 19th of February, the Binance Coin price line followed a bearish momentum before it reached the 20th of February and dropped below the $22 mark.
The cryptocurrency’s price line gradually slipped below the $21.50 mark after the clock struck 15:00 GMT.
1-Day Binance Coin Price Analysis (19th February)
The cryptocurrency has returned from the coin’s previous resting price near the $24 level. After falling to $22.00, the cion gradually moved to the mean value and the support that lies between the $21.45 – $22.00 marks on the chart.
In the price chart posted above, the trading pair can be observed sketching a price line with a negative slope only to recover to some decent level at par with the previous price movement.
Currently, the coin has a day’s range of $20.8940294 — $22.8349708, while it also holds a closing value of $22.0089702 for the 20th of February.
Binance Coin: Technical Indicators
Besides the shaky price movement, the Relative Strength Index (RSI) showed no overbought instances for the coin. To the trader’s dismay, RSI fell to a day’s low of 15.01 before approaching the 20th of February. The RSI stayed between the 30 — 70 range for most of its remaining 24-Hour trip. Currently, the RSI stands at 69.46.
The 20-Day Exponential Moving Average (EMA) can be seen closing above the 50-Day Moving Average (MA), at $21.8792997. The moving average technical indicator closed at $21.7175064. Caution is advised to ensure safe trading as always.
Featured Image by Adrien Ledoux.
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.