Binance Coin price falls below $19.40: what’s next?

The Binance Coin price line fell below the $20.00 mark on the 7th of March. The cryptocurrency trades within a day’s range of $19.2218567 — $20.4013670. The market of the cryptocurrencies seems to have turned bearish on the 7th of March.

1-Day Binance Coin Price Analysis (07th March)

Binance Coin Price Chart

Binance Coin Price Chart by TradingView

Binance Coin began the day’s trade with a trading price of $21.47 US Dollars.  The cryptocurrency can be seen trading above the $21.00 level for most the day. The entering price for the 7th of March was the highest price for the day. At 16:40 GMT, the cryptocurrency saw a decline and moved below the $19.80 mark.

The cryptocurrency traded at $20.1811 US Dollars at the time of closing for the 7th of March. On the 8th of March, the cryptocurrency saw another bearish movement and moved below the $19.40 level. Currently, the coin trades at $19.6056745 US Dollars.

Binance Coin: technical indicators

Binance Coin Featured Price Chart

Binance Coin Featured Price Chart by TradingView

Both of the moving averages currently stand bearish, where the 20-Day Exponential Moving Average (EMA) stands below the BNBUSD pair, at $19.5737319. The 50-Day Moving Average (MA) closed below the 20EMA, at $19.4708843.

As for the Relative Strength Index (RSI), it was seen moving across level 80.00 to reach a day’s high of 81.65 at the time of closure for the 7th of March. At the time of writing, the RSI was observed at 66.72.

Featured Image by Chris Liverani.

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.

Leave a Comment