After four days of declines, Binance Coin is up $1.05 today

After closing at $289.77 today, Binance Coin began today at $289.77 with significant bullish sentiment driving Binance Coin's price action higher. So far today, price action has drawn out a distinct $288.86 to $292.43 range.

Concerning technical analysis and more specifically, trend indicators, the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to asset volatility analysis, BNB's lower Bollinger Band® is at $285.54, indicating that the market is oversold and fertile for new buyers. As the day gets underway, chart analysis suggests after reaching the known resistance zone beginning at $290.88, BNB price action retreated approximately 7 cents.

All in all, the technical analysis suggests Binance Coin has no clear-cut direction.

Other markets are also showing gains as FTX Token is up 9.54%. Cosmos USD gained 3.03% and is now trading at $12.2.

At the same time, UNICORN Token USD closed at $6.43 (down 2.98%).

This year has been a bright one for Binance Coin after trading as low as $196.72 and going on to appreciate by 17.91% year to date. Binance Coin has a market cap of 45.92 billion with an average daily volume of 590.63 million.