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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.
All top 10 coins are in the green zone, according to CoinMarketCap.
The rate of Binance Coin (BNB) has increased by 1.07% over the last 24 hours.
On the hourly chart, the price of BNB is looking rather more bearish than bullish as the rate is near the local support level of $395.5.
If the situation does not change by the end of the day, one can expect a breakout, followed by a move to the $390 area.
On the bigger time frame, the picture is not so clear. The price has entered sideways trading after yesterday’s blast. If the bar closes far from the interim resistance level of $404.9, traders may witness a correction to the $380-$390 zone soon.
From the midterm point of view, one should pay attention to the bar’s closure in terms of the $398.3 level. If it happens above it and with no long wick, growth may continue to the $410-$430 area.
BNB is trading at $397.8 at press time.