On the 5th of May, the Binance Coin price line fell towards the $16.80 level after trading above the $17.10 mark until 10:00 GMT. After the bearish momentum came to an end, the cryptocurrency traded above the $16.80 mark until the end of the day.
1-Day Binance Coin price analysis (5th May)
The BNBUSD pair headed across the $17.30 mark and reached a day’s high of $17.3207899 US Dollars within the first quarter of the day’s trade. The cryptocurrency appeared extremely bearish near 10:00 GMT, and it fell towards the $16.70 level.
As per the daily chart above, Binance Coin can be observed trading between the $16.80 and $16.90 levels from 11:00 GMT, until the end of the day. The BNBUSD pair traded at $16.7711889 US Dollars at the time of writing.
Binance Coin: technical indicators
Binance Coin price chart by Trading View
The 20-Day Exponential Moving Average (EMA) and the 50-Day Moving Average (MA) declined after the BNBUSD pair turned bullish near 10:00 GMT.
After the bearish momentum concluded, both of the moving average indicators sketched their paths between the $16.80 and $16.90 levels until the end of the day. The 20EMA closed at $16.7808184, while the 50MA closed at the bottom, at $16.7365308.
The Relative Strength Index (RSI) fell to a low of 17.08 at the time the BNBUSD turned bearish. This shows that the coin was oversold at the instance, while the RSI remained between the 40.00 and 70.00 levels for the rest of the day. At the time of writing, the RSI appeared at 48.47.
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.