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Neither buyers nor sellers are dominating today, according to the CoinMarketCap ranking.
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BNB/USD
The rate of Binance Coin (BNB) has fallen by 0.67% over the last 24 hours.
Image by TradingView
On the hourly chart, the price of Binance Coin (BNB) has made a false breakout of the local support at $307.7. If the daily closure happens far from this mark, the bounce back may continue to the middle of the channel, to $311.
Denys SerhiichukSuch a scenario is relevant until the end of the day.
Image by TradingView
On the bigger time frame, the fall has continued after a failed attempt to fix above the resistance at $315.3. If the bar closes below yesterday's low at $309.3, one can expect a sooner test of the nearest support zone around $300.
Image by TradingView
The situation remains the same on the daily chart against Bitcoin (BTC) as the rate keeps accumulating energy for a further sharp move. In this case, ongoing sideways trading in the narrow range of 0.0114-0.0117 is the more likely scenario until the end of the week.
BNB is trading at $308.7 at press time.
Vladislav Sopov
Godfrey Benjamin
Dan Burgin