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Buyers are coming back to the game, according to CoinMarketCap.
BNB/USD
The rate of Binance Coin (BNB) has risen by 0.69% over the last 24 hours.
On the hourly chart, the price of BNB is in the middle of the narrow channel, between the support of $580.6 and the resistance of $589.
Denys SerhiichukThe volume has declined, which means there are low chances to expect any sharp moves by the end of the day.
On the bigger time frame, the price of the native exchange coin remains bearish, as it is below the $605.90 level. Thus, if buyers lose the interim zone of $580, the drop may continue to the $570 range shortly.
From the midterm point of view, one should focus on the weekly bar's closure in terms of the previous bar's peak near $600. If bulls break this important zone, growth may lead to the test of the $640 area.
BNB is trading at $586.40 at press time.
Yuri Molchan
