On the 19th of May, the Binance Coin price climbed up the daily chart. The cryptocurrency’s price rose across the $17.30 level. vanthucbk is a TradingView analyst who, while discussing an idea for BNBUSD to go long, suggested that the trading pair may see a rise across the $20.00 mark.
1-Day Binance Coin price analysis (19th May)
The cryptocurrency was at the $16.50 mark at the beginning of the day, after which it gradually moved towards the $17.00 level as it turned bullish. The Relative Strength Index (RSI) was observed at a high of 84.29, which shows that Binance Coin was overbought at that time.
The Relative Strength Index (RSI) appeared bullish for most of the day’s trade. Though it reached a day’s low of 20.48 at noon. At the time of writing, the RSI was observed at 46.08.
Just as the cryptocurrency closed the 19th of May, the BNBUSD pair moved above the $17.30 mark and reached a high of $17.3400901 US Dollars. At the time of writing, the cryptocurrency traded at $17.1198183 US Dollars.
Binance Coin: long across $20.00?
The idea chart posted by the crypto analyst depicted that the cryptocurrency will break above the upper descending line of the triangular pattern for BNBUSD.
Currently, this idea seems to be in play as the cryptocurrency’s price moved across $17.30. The Relative Strength Index (RSI) appears bullish and may look to break above 60.00 on its scale.
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.