Binance Coin price varied above the $15.10 level after the price dump occurred on the 10th of May.
The cryptocurrency turned bearish, and the price graph lowered itself towards the $14.40 level on the evening of the 11th of May. The BNBUSD pair traded between $14.20 and $15.60 levels over the day.
1-Day Binance Coin price analysis (11th May)
The BNBUSD pair rose across the $15.40 mark, and to a high of $15.5355221 US Dollars at the start of the 11th of May. As the day proceeded, the cryptocurrency’s price gradually lowered, and the price line fell down on the daily chart.
Closer to 18:00 GMT, the RSI fell below 15.00 on its hourly scale, and the price reached a low of $14.1317977 US Dollars. After gaining some strength, the cryptocurrency traded at a value of $14.9909465 US Dollars as these lines were being written.
Binance Coin: technical indicators
Binance Coin price chart by TradingView
On the 11th of May, the moving averages for BNBUSD showed disheveled patterns for the day’s trade. Both of the technical indicators had fallen towards $14.40, after which the cryptocurrency regained strength before the trade came to an end. The 20-Day Exponential Moving Average (EMA) closed at $15.0250539, while the 50-Day Moving Average (MA) held a closing value of $15.0522701.
The Relative Strength Index (RSI) moved between the 30.00 and 70.00 levels until the evening of the 11th of May neared, which is when the RSI moved to a low of 11.11. This means that Binance Coin was oversold at the time. At the time of writing, the RSI was at 37.93.
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.