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Binance Coin price sees a rise of 5%

Binance Coin price sees a rise of

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

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 Featured Price Chart

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.

Aroosa Nadeem

Aroosa Nadeem

A media graduate and passionate media person Aroosa has a knack for digital media journalism and outreach. She has contributed content to different digital media publishers in a variety of areas including technology, health and finance.

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