On the 12th of June, the Binance Coin price line moved past the $16.70 level. The altcoins followed the BTC price movement for the day. The BNBUSD pair has a similar chart to that of the BTCUSD pair for the day’s trade. The cryptocurrency traded with a day’s range of $16.08 — $16.78.
1-Day Binance Coin price analysis (12th June)
After reaching the 12th of June, the cryptocurrency can be observed climbing up on the chart above. For its day’s highest, the BNBUSD pair approached a day’s high of $16.78 US Dollars. At the time of writing, Binance Coin was trading at $16.62 US Dollars.
At the beginning of the day, the 20-Day Moving Average (20EMA) and the 50-Day Moving Average (50MA) technical indicators lay below the $16.30 mark. The moving averages were observed treading towards and across the $16.70 mark.
On the evening of the 12th of June, the trading pair fell towards the $16.40 level, after which the technical indicators recovered some value towards the $16.60 mark. The 20EMA closed at $16.596, while the 50MA was observed closing at $16.598.
The Relative Strength Index (RSI) fell below 25.00 in the evening when the cryptocurrency fell down on the charts. The low values of the RSI indicator show that Binance Coin was oversold at the time. The technical indicator returned to its normal range of 30.00 — 70.00, where it varied for the rest of the day’s trade. At the time of writing, the RSI indicator was observed at 49.29. Continue Reading