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.
Bears have seized the initiative at the end of the week, according to CoinMarketCap.
BNB/USD
Binance Coin (BNB) is an exception to the rule, rising by 0.24% over the last 24 hours.
Despite today's slight rise, the rate of BNB is looking bearish on the hourly chart. If the daily bar closes below the $885.69 level, the decline is likely to continue to the $880 zone over the weekend.
On the longer time frame, the situation is unclear as the price of the native exchange coin is far from main levels. In this case, sideways trading in the narrow range of $875-$895 is the most likely scenario over the next few days.
From the midterm point of view, the rate of BNB is going down after a false breakout of the resistance at $941.06.
If the weekly candle closes around the current prices or below them, traders can expect a test of the $800 area in the upcoming month.
BNB is trading at $884.16 at press time.
Denys Serhiichuk
Godfrey Benjamin
Gamza Khanzadaev
Tomiwabold Olajide