Fri, 2/02/2024 – 18:00
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.
Bulls are not going to give up so easily, according to CoinStats.
The price of Binance Coin (BNB) has increased by 0.3% since yesterday.
On the hourly chart, the rate of BNB is rising after a bounce back from the local support level of $299.8. If the daily candle closes far from that mark, there is a chance to see a a test of the resistance soon.
A different situation can be seen on the daily time frame. The price is in the middle of a wide channel, between the support of $288.8 and the resistance of $311.7.
As none of the sides has seized the iniative yet, ongoing sideways trading around the $300 zone is the more likely sceneario for the next few days.
From the midterm point of view, the rate of BNB needs more time to accumulate energy for a further move. In this case, traders can expect a consolidation between $290 and $310 until mid-February.
BNB is trading at $302.1 at press time.
Published at Sat, 03 Feb 2024 04:17:00 +0100