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The correction might have started on the cryptocurrency market, according to CoinMarketCap.
BNB/USD
The price of Binance Coin (BNB) has fallen by 2.28% over the last 24 hours.
On the hourly chart, the rate of BNB is coming back to the local support level of $213.1. If the daily closure happens below it, the fall may continue to the $210-$212 area. Such a scenario is relevant until tomorrow.
On the bigger time frame, the situation is not so clear as the price is far from the key levels. At the moment, one should focus on the interim zone of $210. If the pressure on it continues, there is a high possibility to see a test of the support of $204.8 by the end of the week.
A little bit more of a positive picture can be seen the daily chart against BTC. However, the rate of BNB remains below the level of 0.007873, which means that bears are still more powerful than bulls.
In this case, one still can expect a drop to the 0.0077 mark soon.
BNB is trading at $213.2 at press time.
Tomiwabold Olajide
Arman Shirinyan
Gamza Khanzadaev
