On the Binance Coin price chart, the trajectory moved short towards the $16.00 level before returning to the $16.40 mark. BNB price continued to hold the price level through most of the day’s trade.
1-Day Binance Coin price analysis (16th June)
The price can be seen under a gradual uptrend that led the trajectory across the $16.60 level for the first half of the day. After peeking across the $16.60 ceiling, the cryptocurrency’s price line dove back towards the $16.00 bottom.
Near 20:05 GMT, the price began its upward move, and the journey continued until BNB price touched the $16.40 level again. At the time of writing, the trading pair was marked at $16.38 US Dollars.
The Relative Strength Index (RSI) bottomed at 20.38 near 20:00 GMT. The low value for the technical indicator shows that BNB was oversold at the time.
Binance Coin price on technical indicators
The moving averages can be observed while forming a zigzag pattern at the beginning of the day with short peaks in the first quarter of 16th June. The technical indicators depict movement between the $16.30 and $16.50 marks during this period.
In the afternoon, the BNB price appears to have broken above the $16.60 mark. The coin achieved a day’s high of $16.61 US Dollars. Subsequently, the cryptocurrency moved down on the price chart until it slipped below the $16.00 mark. The day’s lowest standing for BNB was observed at $15.97 US Dollars.
The 20-Day Exponential Moving Average (EMA) exhibited closure at $16.37, whereas the 50-Day Moving Average (MA) stood at $16.37 at the same time.
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.