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All of the top 10 cryptocurrencies are in the red area today, according to CoinStats.
BNB/USD
The price of Binance Coin (BNB) has fallen by 1.6% over the last day.
On the hourly chart, the rate of BNB is going down after setting a local resistance of $978.61. If the daily bar closes far from that mark, one can expect a test of the support by tomorrow.
On the longer time frame, there are no reversal signals yet. If bulls cannot seize the initiative and the candle closes with a long wick, the correction is likely to continue to the $920-$940 zone.
From the midterm point of view, the picture is similar. The rate of BNB is declining after a false breakout of the $1,161 level.
If the bar closes below the psychological $1,000 mark, there is a high chance to witness a test of the $881 support soon.
BNB is trading at $961 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team