Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Buyers are more powerful than sellers on the last day of the week.
BNB/USD
The rate of Binance Coin (BNB) has increased by 1.58% since yesterday. Over the last week, the price has fallen by 0.71%.
On the hourly chart, the price of Binance Coin (BNB) has set a local resistance level at $213. At the moment, one should pay attention to the daily bar closure.
If it happens far from that mark, there is a chance to see a correction to the $205-$206 area soon.
On the daily time frame, the situation has not changed much. The volume keeps falling, which means that buyers are not ready to seize the initiative at the moment. In this case, sideways trading in the area of $205-$208 is the more likely scenario for the next few days.
A slightly different picture is on the weekly chart. The rate of BNB has made a false breakout of the support level at $203.4. If the bar closes far from this mark, there is a possibility of a bounce back to the $220 zone.
BNB is trading at $208.8 at press time.
Yuri Molchan
Vladislav Sopov
