The Binance Coin price line immediately fell to the $16.20 mark while trading above the $16.90 level through the whole day’s trade. The cryptocurrency had made its way across the $17.10 mark, as it traded between the $16.10 and $17.20 levels for the day.
1-Day Binance Coin price analysis (6th May)
BNB exhibited a gradual upward movement as it approached a day’s high of $17.1611792 US Dollars at noon. As the day proceeded towards its end, the cryptocurrency stepped down towards the $16.80 level, while it abruptly fell to the $16.20 mark just as the day came to its end.
The fall marked a day’s low of $16.1863114 US Dollars. At the time of writing, the BNBUSD pair had recovered some price, while it traded at $16.5135086 US Dollars.
Binance Coin: technical indicators
Binance Coin price chart by TradingView
The 20-Day Exponential Moving Average (EMA) closed at $16.5177233, while the 50-Day Moving Average (MA) closed at $16.4833215. The moving averages show a smooth path over the course of the 6th of May, while they turned bearish as the cryptocurrency fell towards the $16.20 level at the time of closure.
The Relative Strength Index (RSI) remained in its normal range for most of the day, while it turned bearish at the time of closure on the 6th of May. After turning bearish, the RSI fell to a low of 13.30, while shows that Binance Coin was oversold at that time. At the time of writing, the RSI stood at 58.01.
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.