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.
Most of the cryptocurrencies are trying to hold the gained initiative and keep trading in the green zone.
BNB/USD
The price of Binance Coin (BNB) has risen by 0.30% over the last 24 hours.
On the hourly chart, Binance Coin (BNB) is looking bullish after the false breakout of the support level at $242.5. At the moment, the price is located near the resistance at $244 against the increased volume. If the candle fixes around that level, the breakout may lead to the test of the $245 mark soon.
On the bigger time frame, the situation is the same as the price remains trading in a wide range, accumulating energy for a further move. If buyers want to come back to the game, they need to restore the price to the $248 mark.
Denys SerhiichukOnly in that case can traders expect a midterm rise above the $250 zone.
On the daily time frame against Bitcoin (BTC), Binance Coin (BNB) is trading near the recently formed support level at 0.014387. If today's bar closes with no long wicks, the rise can continue to the 0.0146 mark by the end of the week.
BNB is trading at $243.4 at press time.
Gamza Khanzadaev
Godfrey Benjamin
Vladislav Sopov
Dan Burgin