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The majority of the top 10 coins are in the red zone today, according to CoinStats.
BNB/USD
The price of Binance Coin (BNB) has dropped by 3.28% over the last 24 hours.
On the hourly chart, the rate of BNB is in the middle of the local channel, between the support of $743.73 and the resistance of $784.54.
The volume keeps going down, which means traders are unlikely to see an increased volatility by the end of the day.
On the longer time frame, the price of the native exchange coin is neither bullish nor bearish. As none of the sides is dominating, ongoing sideways trading is the most likely scenario until the end of the week.
From the midterm point of view, the rate of BNB has made a false breakout of the resistance of $793.86. If the weekly bar closes around current prices, there is a chance to expect a correction to the $720-$740 range.
BNB is trading at $763.23 at press time.
Vladislav Sopov
U.Today Editorial Team