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.
Even though most of the coins faced a significant drop yesterday, buyers have not managed to seize the initiative.
BNB/USD
The rate of Binance Coin (BNB) has dropped by 12.45% over the last 24 hours.
Despite the fall, the rate of Binance Coin (BNB) might have found a local support level at $224.7. At the moment, the price is located near the resistance at $239.5.
Denys SerhiichukIf buyers can hold the gained initiative until the end of the day, there is a chance to see a test of $250 tomorrow.
A similar situation is on the bigger chart. Even though it is too early to think about a midterm reversal, a slight rise to the mirror level at $255.6 can happen. Thus, the buying volume has increased, which confirms bulls' power.
On the chart against Bitcoin (BTC), Binance Coin (BNB) is trying to remain in the bullish zone after the false breakout of the 0.013882 mark. If the candle closes near 0.0145, it might be easy for bulls to keep the rise to the important zone of 0.015. Such a scenario is relevant until the end of the upcoming week.
BNB is trading at $238.6 at press time.
Godfrey Benjamin
Vladislav Sopov
Dan Burgin