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.
Bulls are not going to give up so easily, according to CoinStats.
BNB/USD
Binance Coin (BNB) has not joined the list of rising coins, falling by 0.22%.
On the hourly chart, the rate of BNB is trading near the local support after a false breakout of the resistance level of $234.3. If the candle closes near current prices, the drop may continue to $227 tomorrow.
On the daily time frame, the price of BNB keeps trading in the middle of the channel, between the support of $224 and the resistance of $238.5.
As none of the sides has seized the initiative yet, ongoing sideways trading around $230 is the more likely scenario.
On the bigger chart, BNB is rather more bearish than bullish as the rate is near the support of $224. If its breakout happens, there is a chance to see a sharp decline to the $210-$220 zone.
BNB is trading at $229.6 at press time.
Gamza Khanzadaev
Mushumir Butt
U.Today Editorial Team
