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Binance Coin price falls down below $17.40

Binance Coin price rests above

The Binance Coin price line fell below the $16.90 level on the 7th of June, after which it returned across the $17.30 mark and traded above for the rest of the day’s trade. The cryptocurrency traded within a day’s range of $16.88  — $17.63.

1-Day Binance Coin price analysis (7th June)

Binance Coin price chart 1 - Jun7Binance Coin Price Chart by Trading View

At the start of the 7th of June, the cryptocurrency was observed at a price near the $17.50 level. The BNBUSD pair slipped below the $17.40 mark at noon, after which it saw a sharp decrease in its price towards the $16.90 mark.

Binance Coin approached a day’s low of $16.88 US Dollars, while it regained the bullish momentum after 18:30 GMT. At the time of writing, the BNBUSD pair was observed at $17.43.

Binance Coin: technical indicators

Binance Coin price chart 2 - Jun7Binance Coin Price Chart by Trading View

On the 7th of June, BNBUSD’s moving average technical indicators observed a decline towards the $17.00 level, after which they regained height towards the $17.40 mark before approaching the day’s closure.

The 20-Day Exponential Moving Average (20EMA) fell to a day’s low of $16.97, while it closed at $17.40. The 50-Day Moving Average (50MA) was observed at a day’s lowest of $17.02 and at the time of closure, the technical indicator was at $17.39.

The Relative Strength Index (RSI) diverged below 30.00 at 13:47 GMT, after which it fell to a day’s low of 14.06. Such a low value of the RSI indicator means that Binance Coin was oversold at the time.

The technical indicator returned above 60.00 on the scale shortly after the drop, while it stayed above 50 for the rest of the day. At the time of writing, the RSI indicator was observed at 61.41.

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.

Taha Farooqui

Taha Farooqui

Taha specializes in copywriting & translating texts. He aims to cover cryptocurrencies & blockchain in both English and local dialects in the Middle Eastern regions. He has helped write, translate, and localize the material related to cryptocurrencies and blockchain.

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