Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
Neither buyers nor sellers are dominating today, according to the CoinMarketCap ranking.
Top coins by CoinMarketCap
BNB/USD
The rate of Binance Coin (BNB) has fallen by 0.67% over the last 24 hours.
Image by TradingView
On the hourly chart, the price of Binance Coin (BNB) has made a false breakout of the local support at $307.7. If the daily closure happens far from this mark, the bounce back may continue to the middle of the channel, to $311.
Such a scenario is relevant until the end of the day.
Image by TradingView
On the bigger time frame, the fall has continued after a failed attempt to fix above the resistance at $315.3. If the bar closes below yesterday’s low at $309.3, one can expect a sooner test of the nearest support zone around $300.
Image by TradingView
The situation remains the same on the daily chart against Bitcoin (BTC) as the rate keeps accumulating energy for a further sharp move. In this case, ongoing sideways trading in the narrow range of 0.0114-0.0117 is the more likely scenario until the end of the week.
BNB is trading at $308.7 at press time.
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