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The crypto market is going up at the beginning of the week, according to CoinStats.
BNB/USD
Unlike other coins, the price of Binance Coin (BNB) has dropped by 0.6% over the last day.
On the hourly chart, the rate of BTC has made a false breakout of the local support level of $597.73. If bulls' pressure continues, one can expect a test of the resistance by tomorrow.
On the bigger time frame, the price of the native exchange coin is far from key levels.
Denys SerhiichukIf the daily bar closes near the $600 mark, sideways trading in the narrow range of $590-$620 is the more likely scenario.
From the midterm point of view, there are no reversal signals yet. If the breakout of the $600 area happens, one can expect a test of the $550 zone soon.
Binance Coin is trading at $604.86 at press time.
Dan Burgin
Vladislav Sopov