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Bears are coming back to the game after a few days of growth, according to CoinMarketCap.
BNB/USD
The rate of Binance Coin (BNB) has risen by 0.62% over the last 24 hours.
On the hourly chart, the price of BNB is closer to the resistance level, which means bulls are not going to give up. If buyers' pressure continues, one can expect a test of the $660 mark by tomorrow.
On the bigger time frame, one should focus on the bar's closure in terms of yesterday's bar's peak. If it happens far from it and with a long wick, there is a chance to witness a correction to the $630 zone soon.
From the midterm point of view, the price of BNB is far from key levels. Thus, the volume is going down, which means neither bulls nor bears have seized the initiative yet.
Denys SerhiichukIn this case, sideways trading in the area of $600-$650 is the most likely scenario.
BNB is trading at $646.34 at press time.
Arman Shirinyan
Yuri Molchan
Dan Burgin
Vladislav Sopov