| 
June 22, 2023BNB remains range-bound within a $242.79 to $255.78 range but falls to $243.59 in choppy trade.
Binance Coin made an initial break below its 5 day Simple Moving Average at $245.78, a possible indication of a forthcoming negative trend. Despite this, Binance Coin could begin to recover as it approaches significant support, now $1.18 away from $244.77. Dipping below could be an indication that further losses are ahead.
Following today's unexpected losses, extensive multifactorial technical analysis forecasts Binance Coin to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the BNB is expected to attract significant bearish sentiment in the coming days.
In the meantime, negative performances are also seen in other markets, Solana is down to $16.85, losing $0.403, after closing at $17.25 in the preceding trading session.
Other assets are showing positive performances as FTX Token is up 9.54%. Cardano is up 2.04%.
Binance Coin is now trading 25.43% below its 3-month high of $354.57. BNB is currently trading with a market cap of 37.96 billion with an average daily volume of 588.28 million.
