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Most of the coins are facing a correction today, according to CoinStats.
BNB/USD
The price of Binance Coin (BNB) has fallen by 1.05% over the last day.
On the hourly chart, the rate of BNB is in the middle of the local channel, between the support of $642.29 and the resistance $654.97.
However, if buyers' pressure continues and the daily candle closes near the upper level, one can expect a test of the $660 mark.
A less clear picture can be seen on the bigger time frame. The price of the native exchange is far from key levels. Thus, the volume has dropped, which means there are low chances of seeing sharp moves soon.
From the midterm point of view, the situation is similar. If the weekly bar closes around the current prices, sideways trading in the area of $600-$650 is the most likely scenario.
BNB is trading at $651.79 at press time.
Vladislav Sopov
U.Today Editorial Team