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Bulls seized the initiative on Tuesday as all of the top 10 coins are in the green zone.
BNB/USD
Binance Coin (BNB) could not show such a rise as Ethereum (ETH) or Bitcoin (BTC), rising by 0.73%.
On the hourly chart, the price of Binance Coin (BNB) has made a false breakout of the support at $260. Moreover, the rate has fixed above the resistance at $271.4. If buyers can hold the initiative by the end of the day, one can expect the test of the $300 area soon.
A similar situation can be seen on the daily chart, as the rate has made a false breakout of yesterday's low at $271.7. However, it is too early to think about a reversal as not enough power has been accumulated for that.
Denys SerhiichukIn this case, the more likely scenario is sideways trading in the range of $280-$290.
Analyzing the daily time frame, against Bitcoin (BTC), BNB has almost touched the support level at 0.014323 again. At the moment, traders should pay attention to the crucial mark of 0.015. If the candle closes near it, the drop may continue to the 0.014 zone by the end of the month.
BNB is trading at $280.6 at press time.
Alex Dovbnya
Vladislav Sopov
U.Today Editorial Team
Dan Burgin