After three days of declines, Binance Coin is up $2.58 today

Tentatively higher from an earlier low of $308.46, Binance Coin is up to $311.1 today, adding $2.58, or 0.84%, to today's closing price of $308.52.

Binance Coin made an initial breakout above its 50 day Simple Moving Average at $308.82, a potential indicator of a newly emerging bullish phase. BNB's lower Bollinger Band® is at $302.5, indicating that the market is oversold and fertile for new buyers. On the other hand, note that Binance Coin could be slowing down soon; it is getting close to the resistance line and is now at $311.11, only 1 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.

Examining the technical analysis landscape, Binance Coin might continue its downtrend in the short term.

BNB shows positive signs, other assets are also on par: having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Ethereum ascends 2.91% to trade around $1,861.73. MaticNetwork USD is up 3%.

This year has been a bright one for BNB after trading as low as $196.72 and going on to appreciate by 23.72% year to date. BNB is currently trading with a market cap of 49.12 billion with an average daily volume of 659.42 million.