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Buyers could not keep the rise for long, as most of the coins are in the red zone.
BNB/USD
The rate of Binance Coin (BNB) has fallen by 1.05% over the last 24 hours.
On the hourly chart, the rate of BNB is looking bearish as it is coming back to the local support level of $225. If the daily candle closes near it or even below, the drop is likely to continue to the $220 zone soon.
On the bigger time frame, the situation is less clear as the price is far from the key levels. However, if buyers cannot seize the initiative, there is a high chance to see a test of the support of $221.2 this week.
On the daily time frame against BTC, the situation is neither bullish nor bearish as the rate is in the middle of a wide channel.
Denys SerhiichukAs none of the sides has seized the initiative yet, ongoing consolidation in the area of 0.006650-0.0067 is the more likely scenario for the next few days.
BNB is trading at $225.4 at press time.
Alex Dovbnya
Arman Shirinyan
Dan Burgin
Vladislav Sopov
U.Today Editorial Team