Binance Coin gains positive traction for a 4th successive day

Binance Coin went up to $291.23 only to drop back some of the way and is now trading at $289.56.

Binance Coin made an initial breakout above its 5 day Simple Moving Average at $289.08, a potential indicator of a newly emerging bullish phase. BNB's lower Bollinger Band® is at $280.41, indicating that the market is oversold and fertile for new buyers. Despite this, BNB could be slowing down soon; it is getting close to the resistance line and is now at $293.7, only $4.14 away. Crossing the resistance line could, however, suggest that further gains are ahead.

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

Other markets are also showing gains as FTX Token added 9.54% to its value, now trading at $1.36. Having closed the previous session at $1.12, EOS is up 4.23% today to currently trade at around $1.17.

At the same time, after ending today's session at $6.63, UNICORN Token USD lost $0.197 and is trading around $6.43.

Binance Coin has managed to gain 18.87% so far this year despite trading at lows around $196.72 previously. Binance Coin is currently trading with a market cap of 45.72 billion with an average daily volume of 438.49 million.