Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The market has quickly changed to red, according to CoinMarketCap.
BNB/USD
The rate of Binance Coin (BNB) has fallen by 1.82% over the last day.
On the hourly chart, the price of BNB is closer to the resistance than to the support level. If a breakout of the $849 mark occurs, growth is likely to continue to the $860 mark by tomorrow.
On the longer time frame, the picture is less positive for buyers. The rate of the native exchange coin is near the support of $820.
If sellers' pressure continues and the bar closes below that mark, the accumulated energy might be enough for a dump to the $800 zone.
From the midterm point of view, none of the sides is dominating as the rate of BNB is far from key levels. Thus, the volume has declined, which means there are low chances of seeing sharp moves by the end of the month.
BNB is trading at $848.09 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team