On the 16th of July, the Binance Coin price line fell towards the $16.6 level, while it gradually made its way towards the $17.2 mark as the day came to its end.
1-Day Binance Coin price analysis
Binance Coin traded near the $17.60 mark at the beginning of the day, while it moved to a day’s high of $17.74 US Dollars before 03:00 GMT. After 06:30 GMT, BNB turned bearish and fell towards the $16.60 level, and for the rest of the day’s trade, the cryptocurrency was found trading between the $16.4 and $17.2 levels. At the time of writing, BNB was priced at $17.12 US Dollars.
Binance Coin technical indicators
Binance Coin price chart by Trading View
On the 16th of July, the moving average technical indicators fell towards the $16.60 mark after Binance Coin turned bearish after 06:00 GMT and observed an abrupt fall. At the time, all three of the technical indicators shown in the 1-Day chart above observed a bearish divergence on their scales.
The 20-Day Exponential Moving Average (20EMA) was seen closing the day’s trade at the $17.14 mark, whereas the 50-Day Moving Average (50MA) closed with a value of $17.15.
The Relative Strength Index (RSI) for BNB on the 16th of July, was observed falling towards a day’s low of 4.88 at 06:50 GMT. Such a low value for the technical indicator shows that Binance Coin was extremely oversold at that instance.
At 07:16 GMT, the RSI fell to another low of 16.05, which shows another oversold instance for the cryptocurrency. For its day’s high, the RSI indicator reached 82.30 at 14:43 GMT, which shows that the coin was overbought at the instance. At the time of writing, the technical indicator was observed at 33.98.
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.