Neither bulls nor bears are prevailing in today's market according to the CoinMarketCap ranking.
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BNB/USD
The price of Binance Coin (BNB) has fallen by almost 1% since yesterday.
Image by TradingView
On the local timeframe, the price of Binance Coin (BNB) has retraced to the support level of $310.9. If buyers cannot take the initiative by the end of the day, the breakout may result in a further slight decline within the same $309-$310 zone.
Image by TradingView
On the bigger chart, the price of Binance Coin (BNB) keeps accumulating strength. At the moment, traders should pay attention to the $315 mark. If the closure happens near it and with no ling wicks, one can expect a price blast to $320.
Image by TradingView
A comparable situation can be seen on the daily chart against Bitcoin (BTC), with neither side poised for a dramatic move.
Thus, the low trading volume corroborates the continuing sideways trading. In this case, it is more probable that consolidation will occur in the $0.011-0.0115 range until mid-June.
BNB is trading at $312 at press time.
Godfrey Benjamin
Tomiwabold Olajide