Binance Coin price follows bullish run to $15.75, $16 next?

On 5th July, the Binance Coin price line fell towards the $15.35 mark. At the time of writing, the cryptocurrency traded at $15.74 US Dollars, while its price was observed varying between the $15.15 and $15.75 levels.

1-Day Binance Coin price analysis (5th July)

Binance Coin price chart by Trading View

At the beginning of the trade, the BNBUSD pair stood at the $15.55 mark. With ruffled price movements, the price line gradually fell towards the $15.30 level by the afternoon of 5th July.

After 21:00 GMT, the Binance Coin / US Dollar trading pair turned extremely bearish and fell towards the $15.15 level. However, the price movement caught up with the market in the bullish run and started moving back up towards the high end. At the time of writing, the BNB price is taking a bullish run that may take it above $16.

Binance Coin fall, on technical indicators

Binance Coin price chart by Trading View

The moving average technical indicators observed a lingering movement on 5th July. On the 1D chart, the 20-Day Exponential Moving Average (20EMA) closed at the $15.43 mark, whereas the 50-Day Moving Average (50MA) was observed below the 20EMA, at $15.41.

Near 21:00 GMT, the BNBUSD pair saw an abrupt fall towards the $15.15 level, which is why both of the technical indicators saw a retracement towards the $15.30 mark.

The Relative Strength Index (RSI) fell to 16.57 at 09:56 GMT. The cryptocurrency’s price had fallen towards the $15.27 mark at the time, which is why the RSI showed an oversold coin at that instance.

At 15:05 GMT, the RSI indicator rose to a day’s high of 81.53. Such a high value for the technical indicator depicts that Binance Coin was overbought at the instance.

After 15:11 GMT, the RSI was seen varying between the 30.00 and 70.00 levels for the rest of the day’s trade. At the time of writing, the RSI indicator was observed at 52.86.

Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.