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.
The market is mainly green as the prices of the coins are going up, according to CoinMarketCap.
BNB/USD
Binance Coin (BNB) is one of the biggest gainers today, rising by 4%, having reached the psychological zone of $1,000.
On the hourly chart, the rate of BNB is in the middle of the local channel, between the support of $982.75 and the resistance of $1,006.
As most of the daily ATR has been passed, there are low chances of seeing sharp moves by tomorrow.
On the longer time frame, the price of the native exchange coin has made a false breakout of yesterday's bar's peak of $995.44. If the daily candle closes far from that mark, sellers may seize the initiative, which may lead to a correction to the $960 zone.
From the midterm point of view, there are no reversal signals yet. If the weekly bar closes around current prices or above, traders may witness a test of a new all-time high soon.
BNB is trading at $994.19 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team