Binance Coin price falls to $17.50 range

Binance Coin Price Chart In the afternoon, the cryptocurrency turned bearish and moved towards the $17.50 mark. The cryptocurrency traded within the range of $17.51 — $17.775 throughout the day only to fall down.

1-Day Binance Coin price analysis (6th June)

Binance Coin price chart 1 - 6JunBinance Coin Price Chart by Trading View

At the start of the day, the BNBUSD trading pair stood below the $17.60 level. The cryptocurrency was observed moving towards the $17.80 mark. By noon, Binance Coin approached a day’s high of $17.7906168 US Dollars, after which the cryptocurrency’s price line dropped below the $17.65 level.

According to coinmarketcap.com, Binance Coin has a market capitalization of $2,739,391,238 US Dollars and a total circulating supply of 155,536,713 BNB.

Near 17:00 GMT, BNB price had fallen towards the $17.55 mark, after which it exhibited an uptrend towards the $17.70 level. This uptrend was followed by a quick retracement towards the $17.55 level. At the time of writing, Binance Coin traded at $17.5399466 US Dollars.

Binance Coin: technical indicators

Binance Coin Price Featured ChartBinance Coin Price Chart by Trading View

On the 6th of June, the moving averages moved towards the $17.80 level until noon, afterward they depicted a downtrend for the BNBUSD trading pair.

The 20-Day Exponential Moving Average (EMA) closed at $17.5518988, while the 50-Day Moving Average (MA) approached the day’s closure at $17.5560407.

The Relative Strength Index (RSI) reached lows of 19.57 and 20.11 at 12:30 GMT and 16:50 GMT. Such values for the technical indicator show that Binance Coin was oversold at the time. At the time of writing, the RSI indicator was observed at 41.59.

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.

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