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June 20, 2023
Slightly weaker but mostly flat: BNB is currently trading at $240.48 as it maintains an active range between $240.48 and $244.7.
Technical analysis of Binance Coin's past price action reveals multiple support and resistance levels: Binance Coin could begin to recover as it approaches significant support, now $1.75 away from $238.73. Dipping below could be an indication that further losses are ahead. With regards to technical trend indicators, chart analysis show that BNB made an initial break below its 5 day Simple Moving Average at $241.32, a possible indication of a forthcoming negative trend.
Overall, while BNB has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
In the meantime, negative performances are also seen in other markets, Ripple is trading around $0.486 (down $0.007). After ending today's session at $0.263, Cardano lost $0.005 and is trading around $0.258.
Other assets are showing positive performances as FTX Token gained 9.54% and is now trading at $1.36.
BNB has shed 28% over the past three months. Binance Coin is currently trading with a market cap of 37.48 billion with an average daily volume of 572.32 million.
