Binance Coin BNB Price: falls by 3.7%

The Binance Coin BNB price fell by 0.34 percent in comparison to the 11th of December coupled with disarranged progression and regression. 

Binance Coin BNB Price Analysis – 12th December (BNB/USD)

Binance Coin BNB Price Analysis Dec 12 Chart 1

Binance Coin BNB Price Chart by Trading View

As shown by the graph above, the bulls attempted to swerve the direction of the price in a positive direction. However, this surge did not last for a prolonged period and instead, the surge that occurred caused the bears to take over. This landed the price in a compromising position where it consolidated gains (and losses) over a bearish pathway.

After the coin opened at $14.72, it began its path, which landed the currency to its highest value of the day, i.e. $14.86. However, the price declined steeply, which resulted in the price falling to its lowest at $14.32. Thereby, the price fell by 3.7 percent. Although the price was raised higher around 18:36 GMT, it did not seem to benefit the cost significantly. The coin eventually closed at the $14.67 mark. 

Technical Indicators

Binance Coin BNB Price Analysis Dec 12 Chart 2

Binance Coin BNB Price Chart by Trading View

The Binance Coin price did not differ significantly from its moving averages. The 50-Day Simple Moving Average (SMA) closed at $14.621 while the 20-Day Exponential Moving Average (EMA) closed at $14.628. While the SMA was lower than the price by 0.33 percent, the EMA was weaker by 0.28 percent.

There was one instance of overbought shares occurring at 05:30 GMT with a Relative Strength Index (RSI) value of 79.89. Along with this, there were three instances of oversold shares which occurred at 07:24 GMT, 20:09 GMT, and 20:49 GMT. Each decreased the value of the altcoin as the RSI fell below 30. The RSI closed at 65.04.

Featured Image Background by Pascal Meier

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