After four days of declines, Binance Coin is up $1.88 today

Marginally higher but lacking a clear-cut direction, BNB is trading at $306.88 after ranging between $304.23 and $308.36 today.

Technical chart analysis shows Binance Coin could be slowing down soon; it is getting close to the resistance line and is now at $307.3, only 42 cents away. Crossing the resistance line could, however, suggest that further gains are ahead. Trend and momentum analysis indicates that Binance Coin made an initial breakout above its 3 day Simple Moving Average at $307.7, a potential indicator of a newly emerging bullish phase. Analysis based on the asset volatility indicates that Bollinger Band® analysis indicates that current price action is approaching the upper band at $315.68, thereby suggesting that BNB is becoming overvalued.

Overall, the technical outlook suggests Binance Coin is likely to remain muted for the immediate future, with no clear-cut direction.

Binance Coin shows positive signs, other assets are also on par: FTX Token added 9.54% to its value, now trading at $1.36. TRON gained 2.34% and is now trading at $0.077. Cardano rises 3.03% to trade around $0.376.

BNB has managed to gain 24.75% so far this year despite trading at lows around $196.72 previously. BNB is currently trading with a market cap of 47.83 billion with an average daily volume of 399.34 million.