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Bulls are not ready yet to get back in the game, according to CoinStats.
BNB/USD
The price of Binance Coin (BNB) has declined by 1.86% over the last 24 hours.
On the hourly chart, the rate of BNB is falling after setting a local resistance of $659.42. If bulls cannot seize the initiative, traders may witness a test of the $640 range.
On the longer time frame, the situation remains neutral.
The native exchange coin keeps accumulating energy for a futher move. In this case, there are low chances of seeing sharp ups or downs.
From the midterm point of view, ongoing sideways trading remains the most likely scenario. The volume keeps falling, which means traders might witness consolidation in the area of $640-$680 over the next few weeks.
BNB is trading at $650.29 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team