Binance Coin price appears bullish after a 24-hour trade between the $16.30 and $16.50 levels. The BNBUSD trading pair rose towards the $17.00 mark just before closing on the day. At the time of writing, BNB trades within a day’s range of $15.9806615 — $17.1458268.
1-Day Binance Coin price analysis (28th May)
As seen in the chart above, the Binance Coin / US Dollar trading pair stood near the $16.30 level at the beginning of the trade. While it traded between the $16.30 and $16.50 levels until after 01:00 GMT on the 28th of May.
The RSI exhibited a bullish divergence towards 80.00 on its scale, and the BNBUSD pair rose across the $17.00 mark. At the time of writing, BNB traded at $16.9337575 US Dollars.
Binance Coin: technical indicators
Binance Coin price chart by Trading View
The moving average technical indicators remained below the $16.50 level from the evening of the 27th of May, until the evening of the 28th of May. As the trading pair’s price line diverged towards the $17.00 level, the moving averages depict an uptrend before the day’s closure.
Both of the technical indicators, the 20-Day Exponential Moving Average (20EMA) and the 50-Day Moving Average (50MA) can be observed moving across the $17.00 mark at 15:35 GMT. As per the charts, the 20EMA closed at $16.8748843, while the 50MA closed at $16.8112670.
The Relative Strength Index (RSI) remained between the levels 30.00 and 70.00 for most of the day’s trade, while the technical indicator was observed diverging towards 80.00 just before the trade’s closure. This shows that Binance Coin was overbought at the instance. At the time of writing, the RSI was observed at 61.68.
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.