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Bears are not going to give up as the rates of most of the coins keep falling.
BNB/USD
The price of Binance Coin (BNB) has decreased by almost 1% since yesterday.
On the local chart, traders should pay attention to the nearest level of $213.5. If the daily bar closes near it or below, the fall is likely to continue to the $213 zone tomorrow. However, if a bounce back happens, one can expect a local rise to the middle of the channel.
On the bigger time frame, the price of BNB is coming back to the support level of $213. If the bar closes below yesterday's low, the accumulated energy might be enough for a blast to the $210 range by the end of the week.
A similar picture can be seen on the weekly chart as the rate is approaching the support of $212.5.
Denys SerhiichukIf the situation does not change by the end of the week, buyers are likely to see a drop of BNB to the $205-$210 area shortly.
BNB is trading at $213.6 at press time.
Arman Shirinyan
Alex Dovbnya
Vladislav Sopov
Dan Burgin
U.Today Editorial Team