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The market is mainly green today, according to CoinStats.
BNB/USD
The price of Binance Coin (BNB) has gone up by 3.69% over the last 24 hours.
On the hourly chart, the rate of BNB is declining after a false breakout of the local resistance of $912.65. If bulls cannot seize the initiative, one can expect a test of the support by tomorrow.
On the longer time frame, the picture is neutral. As the price of the native exchange coin is far from its key levels, one should focus on the candle's closure in terms of its bar low or peak.
If it happens with a long wick, sellers may again seize the initiative, which may lead to a correction to the $870 range.
From the midterm point of view, the week has just begun, and it is too early to make long-term predictions. However, the volume keeps going down, which means sideways trading around the current prices is the most likely scenario for BNB.
BNB is trading at $897 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team