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.
The correction may have ended on the cryptocurrency market, according to the CoinMarketCap ranking.
Top coins by CoinMarketCap
BNB/USD
The rate of Binance Coin (BNB) has increased by 3.49% over the last 24 hours.
Image by TradingView
On the local chart, the rate of BNB has broken the resistance at $339.7. Currently, one should pay attention to whether buyers can hold the gained initiative and hold the price above that mark.
Denys SerhiichukIf they manage to do that, the rise may lead to the test of the $350 zone tomorrow.
Image by TradingView
On the bigger time frame, the price is getting back to the recently formed resistance level at $350. If today's closure happens with no long wicks, there is an opportunity to see a test of the mentioned mark soon.
Image by TradingView
The completely opposite picture can be seen on the daily chart against Bitcoin (BTC). The price has stayed low after the false breakout of the resistance at 0.012068. As there are no reversal signals yet, the decline may continue to the nearest important zone around 0.011. Such a scenario is relevant until the end of the month.
BNB is trading at $341.3 at press time.
Tomiwabold Olajide
Gamza Khanzadaev
Dan Burgin
Alex Dovbnya
Vladislav Sopov