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June 26, 2023
BNB weakened earlier in the day, before moving away from its $234.35 low and recovering back to $237.78.
Despite being in the red so far in the current trading session, Binance Coin peaked above its 3 day Simple Moving Average around $239.63 — typically an early indicator of a new bullish trend beginning to emerge. 'Bullish Harami' is a candlestick chart indicator used for detecting reversals in an existing bear trend. It is generally indicated by a small price increase that's contained within a broader downward price movement and is commonly associated with a bearish trend coming to an end. Bollinger Bands® shows an indication of recovery: the lower band is at $226.89, a low enough level to, generally, suggest that BNB is trading below its fair value. Although Binance Coin is pointing down today (was as low as $234.35), it's climbing away from the $234.13 support line and is now $3.64 above it.
Overall, looking at the technical analysis landscape, it seems Binance Coin —which is currently on a downtrend— might reverse course and start pointing upward in the short term.
Positive performances can be seen by looking at other markets as Bitcoin Cash gained 12% and is currently trading at $219.06. NEAR Protocol is up 13.55%. FTX Token is up 9.54%.
Binance Coin has shed 26.08% over the past three months. Binance Coin has a market cap of 37 billion with an average daily volume of 630.84 million.
