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)
Binance Coin Price Chart by TradingView
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
Binance Coin Featured Price Chart by TradingView
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.
