Binance Coin price steps down to $17.35

BNBUSD’s uptrend across the $17.40 mark on the 7th of June was triggered after Bitcoin’s price turned bullish near 19:00 GMT. The Binance Coin price was kept above $17.25 for the 8th of June, while BTC continues to hold its trade above the $9650 mark.

With a market rank of 8, the cryptocurrency has a market capitalization of $2,699,317,044 US Dollars.

1-Day Binance Coin price analysis (8th June)

Binance Coin price chart 1 - Jun8Binance Coin Price Chart by Trading View

The price trajectory for BNB can be seen as a downward slope. The cryptocurrency concluded its bullish move after it approached the day’s high across the $17.50 mark. At the time, the cryptocurrency traded at $17.55.

The price graph can be observed stepping down over the daily chart for the 8th of June. The cryptocurrency slipped below the $17.30 level near the time of closure. The day’s closure for BNB was $17.27.

Just before closing the daily trade, BNB price moved past the $17.35 level, and it closed the trade with a price of $17.36 US Dollars.

Binance Coin: technical indicators

Binance Coin price chart 2 - Jun8Binance Coin Price Chart by Trading View

The Relative Strength Index (RSI) moved below 30.00 in several instances. The technical indicator approached lows of 24.71, 25.78, 24.66, and 24.16 on the daily chart. The RSI indicates an oversold coin whenever its value drops below 30 on the scale.

For its highest, the technical indicator approached 75.44, which depicts that Binance Coin was mildly overbought at the time. The RSI indicator was at 54.33 at the time of writing.

The 20-Day Exponential Moving Average (20EMA) shows a ruffled down-trending path for the 8th of June. The 20EMA closed at $17.35, while the 50-Day Moving Average (50MA) was observed at $17.33 at the time.

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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