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By the middle of the week, most of the coins have come back to the red zone, according to CoinMarketCap.
BNB/USD
The price of Binance Coin (BNB) has declined by 3.26% over the last day.
On the hourly chart, the rate of BNB is looking bearish, as it is about to break the local support of $1,100. If that happens, the drop is likely to continue to the $1,080 mark.
On the longer time frame, there are no reversal signals yet. As the price of the native exchange coin is far from key levels, one should focus on the interim level of $1,100.
If bulls lose this mark, there is a high chance of witnessing a test of the $1,050 zone.
From the midterm point of view, the rate of BNB has made a false breakout of the previous bar peak of $1,161. If the weekly candle closes far from that mark, the correction may continue to the $1,000 area.
BNB is trading at $1,096 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team