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Some coins have returned to the red zone at the end of the week, according to CoinMarketCap.
BNB/USD
The rate of Binance Coin (BNB) has fallen by 0.87% since yesterday. Over the last week, the price has risen by 2.86%.
On the hourly chart, the price of BNB is returning to the local support level of $593.1. If the drop continues, one can expect a breakout followed by a move to the $590 zone.
On the bigger time frame, the picture remains bearish. If buyers want to be back in the game, they need to restore the rate to the resistance of $616.
From the midterm point of view, the price of Binance Coin (BNB) has made a false breakout of the resistance of $612.6. If the weekly candle closes far from it, there is a chance of a correction to the $580 range next week.
BNB is trading at $596.5 at press time.
Godfrey Benjamin
Tomiwabold Olajide
Dan Burgin
Alex Dovbnya
Vladislav Sopov