Bulls keep controlling the situation on the market, according to the CoinMarketCap ranking.
BNB/USD
Binance Coin (BNB) is following the slight rise of Bitcoin (BTC), going up by 0.47%.
Despite the growth, Binance Coin (BNB) is looking bearish on the local time frame. The price has reached the support level at $329. If the situation does not change, the breakout may lead to the test of the $325 mark tomorrow. Thus, the selling volume has risen, which confirms bears' pressure.
On the daily chart, bulls could not keep the rise after yesterday's bullish candle. Moreover, the price has again made a false breakout of the resistance at $335.5, which means that buyers might have run out of power.
In this case, the more likely scenario is a correction to the nearest support zone around $320.
Meanwhile, the rate of Binance Coin (BNB) keeps trading sideways on the daily time frame against Bitcoin (BTC). At the moment, one should pay attention to the mark of 0.0144. If the rate gets back to it, there are chances to see the breakout, followed by the rise to the 0.0148-0.015 area.
BNB is trading at $329.2 at press time.
Yuri Molchan
Vladislav Sopov