The Binance Coin price line gradually rose towards the $16.50 mark on the 6th of July. BNB price followed Bitcoin, the cryptocurrency king, as it turned bullish over the day’s trade.
1-Day Binance Coin price analysis (6th July)
At the beginning of the day’s trade, the BNB price mark was settled near the $15.50 level, while it gradually moved towards the $15.80 mark by 21:00 GMT, after which the BNBUSD pair can be observed turning bullish as per the chart above.
The price rose across the $16.50 mark, at the time of writing, Binance Coin was priced at $16.30 US Dollars.
Binance Coin technical indicators
Binance Coin price chart by Trading View
On the 6th of July, the moving averages depict a gradual incline in the price towards the $15.80 mark, while after 21:00 GMT, the cryptocurrency rose by over $0.6 US Dollars. Before closing the trading, both of the technical indicators Binance Coin rose across the $16.40 mark.
The 20-Day Exponential Moving Average (20EMA) closed at the $16.27 mark, while the 50-Day Moving Average (50MA) was observed at the $16.26 level towards the closure of the day.
The Relative Strength Index (RSI) was observed at a day’s high of 95.28 near 21:45 GMT. This shows that the coin was highly overbought at that time. At 01:30 GMT, the RSI rose to a high of 86.36, which means that Binance Coin was overbought at that instance as well.
Near 09:35 GMT, the RSI indicator had fallen to 18.74. Such a low value for the technical indicator shows that the cryptocurrency was oversold at that instance. At the time of writing, the RSI indicator was observed at 63.42.
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.