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.
Sellers have completely gotten back in the game, according to the CoinMarketCap ranking.
Top coins by CoinMarketCap
BNB/USD
The rate of Binance Coin (BNB) has fallen by 5.54% since yesterday.
Image by TradingView
The price of BNB is in the middle of the local channel, between the support at $213.5 and the resistance at $220.3. If today's bar closes near the $220 mark, bulls might seize the initiative, which can lead to a test of $224 tomorrow.
Image by TradingView
Yesterday's dump has formed a local peak at $212.5. At the moment, traders are unlikely to see sharp moves. However, the rate of BNB does not have enough energy yet for a bounce back.
All in all, sideways trading between the $215 and $220 mark is the more likely scenario for the next few days.
Image by TradingView
On the weekly chart, traders should focus on the $214.8 level. If the candle closes near it, it means that one can expect one more wave of decline. If that happens, there is a chance of seeing a test of the $200 area.
BNB is trading at $217.5 at press time.
Tomiwabold Olajide
Gamza Khanzadaev
Yuri Molchan
