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Most of the coins keep rising at the beginning of the weekend, according to CoinStats.
BNB/USD
The rate of Binance Coin (BNB) has increased by 2.65% since yesterday.
On the hourly chart, the price of BNB might have found a local resistance level at $587.6. If the daily bar closes far from it, one can expect a local correction to the $570 range.
On the bigger time frame, traders should focus on the candle closure in terms of the $583.9 level.
Denys SerhiichukIf bulls can hold the initiative, there is a chance of a breakout followed by a further rise to the vital zone of $600.
On the weekly chart, bulls are trying to be back in the game in the midterm. If a breakout of the crucial area of $600 happens, the accumulated energy might be enough for a move to the $680-$700 range soon.
BNB is trading at $583.3 at press time.
Alex Dovbnya
Arman Shirinyan
Vladislav Sopov
Dan Burgin
U.Today Editorial Team