Binance Coin cryptocurrency trades up $4.34, approximately 1.78% higher this morning

Tentatively higher from an earlier low of $244, Binance Coin is up to $248.34 today, adding $4.34, or 1.78%, to today's closing price of $244.

Binance Coin made an initial breakout above its 5 day Simple Moving Average at $245.16, a potential indicator of a newly emerging bullish phase. Despite this, after reaching the known resistance zone beginning at $249.63, BNB price action retreated approximately $1.29.

Overall, looking at the technical analysis landscape, it seems BNB might continue pointing upwards in the short term.

Other markets are also showing gains as FTX Token is up 9.54%. Tezos USD is up 2.04%.

At the same time, after ending today's session at $0.519, Ripple lost $0.004 and is trading around $0.515.

BNB is now trading 21.57% below its 3-month high of $354.57. Binance Coin is currently trading with a market cap of 38.71 billion with an average daily volume of 552.37 million.