Binance Coin price fell by over 3.5% on the 15th of May as the altcoin market followed Bitcoin’s fall. The coin moved towards the $15.80 level, while it traded between the $15.60 — $16.50 range over the day.
1-Day Binance Coin price analysis (15th May)
The cryptocurrency began the trade near the $16.40 level, after which it fell towards the $16.10 mark when the RSI turned bearish. At the time of the fall, Binance Coin was oversold. The cryptocurrency traded near the $16.10 level until after 19:00 GMT when BNB turned bearish the price fell towards the $15.70 mark. At the time of writing, the BNBUSD pair traded at $15.8849280 US Dollars.
Binance Coin: technical indicators
The moving averages were placed above the $16.40 level at the start of the day. Both of the technical indicators varied between $16.00 — $16.20 between 03:00 GMT and 19:00 GMT. This shows that there wasn’t any major variation in the cryptocurrency’s price during this time.
The technical indicators can be observed falling towards the $15.80 level by the end of the full-featured chart for the day. The 20-Day Moving Average (EMA) closed at $15.8979812, while the 50-Day Moving Average (MA) closed at $15.8885648.
The Relative Strength Index (RSI) reached a low of 13.42 on the 15th of May, which means that the coin was oversold at the time. The RSI shows now overbought instances for the cryptocurrency, while at the time of writing, the RSI was seen at 46.45.
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.