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Bulls are trying to get back in the game, according to the CoinMarketCap ranking.
Top coins by CoinMarketCap
BNB/USD
The rate of Binance Coin (BNB) has increased by 0.21% over the last 24 hours.
Image by TradingView
On the local chart, the rate of Binance Coin (BNB) is rather more bearish than bullish as the price is near the support level. If the closure occurs below the $240 zone, the breakout may lead to the test of the $235 area shortly.
Image by TradingView
On the bigger time frame, the situation is neither bearish nor bullish as the rate is in the middle of a wide channel. In this case, ongoing consolidation in the range of $235-$245 is the more likely scenario until the end of the month.
Image by TradingView
A similar situation can be seen on the weekly time frame as none of the sides has seized the initiative yet.
In addition, the volume keeps falling, which means that BNB needs more time to accumulate energy for a sharp move.
BNB is trading at $241.1 at press time.
Mushumir Butt
Tomiwabold Olajide
Gamza Khanzadaev
