Binance Coin price is moving up as the altcoins move up on their price charts for the 7th of May while Bitcoin climbs towards $10000.
The Binance Coin price line rose across the $17.20 level, gaining a total of just over 5% of its price before the cryptocurrency started the day’s trade.
1-Day Binance Coin price analysis (7th May)
Binance Coin price chart by TradingView
The BNBUSD pair began the trade with a value near the $16.35 mark, while it traded below the $1 6.80 level until 18:00 GMT. The Relative Strength Index (RSI) moved across the level 80.00 after 18:00 GMT, which means that the RSI showed a bullish divergence on the hourly time interval.
At the time, the trading pair’s price line moved across the $17.20 level and approached a day’s high of $17.2651374 US Dollars. The cryptocurrency traded above the $17.00 mark for the rest of the trade, and at the time of writing, Binance Coin traded at $17.1313372 US Dollars.
Binance Coin: technical indicators
Binance Coin price chart by TradingView
The moving average technical indicators turned upwards on the 7th of May as the BNBUSD pair turned bullish and moved across the $17.20 mark. The 20-Day Exponential Moving Average (EMA) closed at $17.1680411, while the 50-Day Moving Average (MA) closed at the top, at $17.1816101.
The Relative Strength Index (RSI) varied above the level 30.00 on its scale over the full-featured chart. This means that the coin was not oversold on the 7th of May. Near 18:00 GMT, the RSI can be observed at a high of 82.76, which shows that Binance Coin was overbought at the time. At the time of writing, the RSI was at 56.52.
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.
