On the 9th of May, the Binance Coin price trajectory moved near and above the $17.00 level. Following Bitcoin‘s trend for the day, the cryptocurrency turned bearish right after reaching the 10th of May. At the time of writing, BNBUSD has a trading range of $13.6231200 — $17.0174473.
1-Day Binance Coin price analysis (9th May)
After starting the day’s trade near the $17.00 mark, the BNBUSD pair remained above the trading level until the end of the day. At the start of the 10th of May, the cryptocurrency appeared bearish and fell to a day’s low of $14.0309513 US Dollars.
At the time of writing, Binance Coin traded at $15.0357740 US Dollars. On the monthly chart, the Relative Strength Index (RSI) remained bearish below the level 30.00 on its scale.
Binance Coin: technical indicators
Binance Coin price chart by TradingView
On the 9th of May, the moving averages drew straight paths above the $17.00 mark as observed in the full-featured chart above.
This shows that the BNBUSD pair barely showed any variations in its price over the day’s trade. The 20-Day Exponential Moving Average (EMA) closed at 15.1830160, while the 50-Day Moving Average (MA) concluded at 15.3386612.
The Relative Strength Index (RSI) remained in the 30.00 — 70.00 range according to the hourly time intervals. At the time when BNBUSD turned bearish on the 10th of May, the RSI fell to a low of 0.49. This means that Binance Coin was extremely oversold at that time. At the time of writing, the RSI was at 38.06.
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.