The Binance Coin price line gradually stepped down on the daily chart after it approached a day’s high above the $23.2 mark. The cryptocurrency was observed trading between the levels of $21.2 and $23.4.
1-Day Binance Coin price analysis
The price line moved to a day’s high above the $23.2 level within the first quarter of the day’s trade. The cryptocurrency’s price trajectory can be observed forming a descending slope in the chart for the 21st of August. At the time of writing, the BNB price was marked to be at $22.00 US Dollars. The day’s lowest for the 21st of August was observed at the $21.27 mark.
Binance Coin technical indicators
Binance Coin price chart by Trading View
The technical moving averages for the BCHUSD trading pair traversed down on the price chart for the 21st of August as the altcoin market turned bearish. The 20-Day Exponential Moving Average (20EMA) closed at $22.02 on the day, while the 50-Day Moving Average (50MA) was observed closing at the $22.03 mark.
The 20EMA approached a day’s low of $21.42, whereas the 50MA touched the day’s lowest at the $21.5 level. The Relative Strength Index (RSI) saw a day’s high of 81.15 during the second half of the first quarter of the day. This means that the cryptocurrency was overbought during the time. At the time of writing, the technical indicator was observed at the $49.96 mark. At the same time, the 20EMA stood at $22.01, while the 50MA was observed at $22.00.
Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.