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.
Sellers are back in the game as some coins are again in the red zone.
Top coins by CoinMarketCap
BNB/USD
The rate of Binance Coin (BNB) is almost unchanged since yesterday.
Image by TradingView
On the hourly chart, the rate of Binance Coin (BNB) is trading near the recently formed local resistance at $238.1. If the daily bar closes above it, the upward move may continue to the $239 mark tomorrow.
Image by TradingView
From the technical point of view, today's slight rise has not affected the general position on the daily time frame. Thus, the volume keeps falling, which means that neither bulls nor bears have seized the initiative yet.
All in all, ongoing sideways trading in the area of $236-$240 is the more likely scenario until the end of the week.
Image by TradingView
A similar picture can be seen on the daily chart against BTC as the price is far from the support and the resistance. Traders can start thinking about a possible upward move only if the rate fixes above the nearest interim zone of 0.0082.
BNB is trading at $238.1 at press time.
Alex Dovbnya
Gamza Khanzadaev
