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Binance Coin price rises to $16.50, rests near $16.30

Binance Coin price rises to rests near

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)

Binance Coin price chart 1 - 6 July

Binance Coin price chart by Trading View

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 2 - 6 July

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.

Johnson Go

Johnson Go

Blockchain enthusiast, project management specialist, writer and crypto investor. JG deals mostly with problems and solutions of crypto projects and provides market outlook for investments. He contributes his analytical skills to projects.

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