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The market is turning back to red, according to CoinMarketCap.
BNB/USD
The price of Binance Coin (BNB) has gone down by 1.46% over the last 24 hours.
On the hourly chart, the rate of BNB has broken the local resistance level of $685.76. If buyers can hold the gained initiative and the bar closes far from that mark, growth is likely to continue to the $690 area and above.
On the bigger time frame, the picture is less positive. The price of the native exchange coin is far from the main levels.
Denys SerhiichukNeither bulls nor bears are dominating, which means ongoing sideways trading in the range of $670-$700 is the most likely scenario.
From the midterm point of view, the situation is similar. If the weekly bar closes around current prices, traders may witness an ongoing consolidation in the zone of $660-$740 by the end of the month.
BNB is trading at $688.14 at press time.
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.
Arman Shirinyan
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