The Binance Coin price line varied near $17.30 for the day’s trade after it had risen across the $17.50 mark. Anonymous Trader Academy, a TradingView analyst, suggests that BNBUSD will meet the $75 target for a long trade.
1-Day Binance Coin price analysis (9th June)
Binance Coin rose above the $17.50 mark and approached a day’s high of $17.54 US Dollars in the first hour of the day. Subsequently, the price fell down on the charts and reached a day’s low of $17.06.
The cryptocurrency returned towards the $17.30 level shortly after the fall. At the time of writing, BNBUSD traded at $17.37 US Dollars.
Binance Coin price; what to expect?
Trading view analyst Anonymous Trader Academy believes that EOSUSD should see an uptrend towards the $75 mark in the long-term trade. However, this can take several months to play until the end of the year 2020 or mid-2021.
If this trade plays, then the cryptocurrency will see a downtrend before it can see turn bullish and move towards $75 in the broadening wedge pattern. The return on investment for this trade will be 500% once it is completed.
Binance Coin price on technical indicators
The moving averages traced trajectories between the $17.00 — $17.60 range for the 9th of June. At the beginning of the day, the technical indicators rose across the $17.50 mark for a brief instance, after which they dropped below the $17.10 level for a short period.
The 20-Day Exponential Moving Average (20EMA) and the 50-Day Moving Average (50MA) returned towards the $17.30 level shortly after the fall. At the time of closure, the 20EMA was at $17.37, while the 50MA was observed at $17.36.
The Relative Strength Index (RSI) fell to a low of 15.21 at the time the BNBUSD pair fell below the $17.10 mark. This shows that the coin was oversold at the time. At the time of writing, the RSI was at 45.10.
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.