The Binance Coin price line lowered itself below the $14.50 level during the price dump after Bitcoin BTC‘s price dump on the 10th of May, the altcoins significantly fell on their daily price charts as well.
It had been traded between the $15.00 and $15.50 level for the rest of the day’s trade. The cryptocurrency traded within a day’s range of $15.1807631 — $15.5777837.
1-Day Binance Coin price analysis (10th May)
BNB appeared extremely bearish at the start of the 10th of May as Bitcoin exhibited a price dump. The RSI for the BNBUSD pair had fallen to a low of 1.12, which shows that the coin was extremely oversold during this bearish divergence of the RSI.
The cryptocurrency was able to immediately return above the $15.00 mark, right after the price dump. Binance Coin traded closer to the $15.00 level for the rest of the day. At the time of writing, BNB/USD stood at $15.4587027.
Binance Coin: technical indicators
Binance Coin Price Chart by TradingView
On the 10th of May, the moving averages for the BNBUSD trading pair fell towards the $15.00 level. As the trading pair depicted no significant changes in its price for the rest of the day’s trade, the technical indicators drew stable graphs. The 20-Day Exponential Moving Average (EMA) closed at $15.4382196, while the 50-Day Moving Average (MA) concluded the day’s trade with a value of $15.4342626.
After its bearish divergence at the beginning of the 10th of May, the Relative Strength Index (RSI) regained its height over the full-featured chart. The RSI rose to a high of 90.34 near 07:30 GMT. This shows that Binance Coin was oversold at that time. At the time of writing, the RSI was at 57.45.
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.