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Binance Coin price treads past $16.90

Binance Coin price returns to move to next

On the 7th of July, the Binance Coin price line saw a decrease until after 09:00 GMT when the price had turned bullish. The cryptocurrency moved towards the $17.00 mark as it approached the end of the day’s trade.

1-Day Binance Coin price analysis (7th July)

Binance Coin price chart 1 - 7 July

Binance Coin Price Chart by Trading View

The BNB price line trod below the $16.10 level before 09:00 GMT, after which the cryptocurrency turned bullish and moved past the $16.80 mark prior to 15:00 GMT. At the time of writing, the Binance Coin was priced at $16.94 US Dollars.

Binance Coin technical indicators

Binance Coin price chart 2 - 7 July

Binance Coin Price Chart by Trading View

The moving averages appear bearish for the first 8 hours of the day, after which the cryptocurrency turned bullish. Both of the technical indicators were observed inclining towards the $16.80 mark, after which they observed a short retracement below the $16.60 level.

As the day proceeded towards its end, the moving averages rose past the $16.90 level. At the time of writing, the 20-Day Exponential Moving Average (20EMA) closed at $16.925, whereas the 50-Day Moving Average (50MA) closed above the 20EMA, at $16.929.

The Relative Strength Index (RSI) rose to a day’s high of 90.16 at 13:58 GMT, which means that the cryptocurrency was highly overbought at the time. At two other similar instances, the RSI indicator rose past 80.00 on the scale.

At 15:01 GMT on the 1D chart, the technical indicator had fallen to the 17.54 mark. At the time of writing, the RSI was observed at 49.66.

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.

Taha Farooqui

Taha Farooqui

Taha specializes in copywriting & translating texts. He aims to cover cryptocurrencies & blockchain in both English and local dialects in the Middle Eastern regions. He has helped write, translate, and localize the material related to cryptocurrencies and blockchain.

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