BNB cryptocurrency trades up $6.09, approximately 2% higher going into tomorrow

Tentatively higher from an earlier low of $300.97, Binance Coin is up to $308.46 today, adding $6.09, or 2%, to today's closing price of $302.38.

Binance Coin made an initial breakout above its 50 day Simple Moving Average at $305.54, a potential indicator of a newly emerging bullish phase. Fibonacci-focused traders would be interested to note that Binance Coin is oscillating around the key Fibonacci resistance level of $304.32. Binance Coin's lower Bollinger Band® is at $291.58, indicating that the market is oversold and fertile for new buyers. BNB broke through the $303.92 resistance, climbing $4.54 above it.

Following today's unexpected gains, extensive multifactorial technical analysis forecasts BNB to buck against its prevailing downtrend and begin to turn higher in the short term. With all probabilities considered, the Binance Coin is expected to pick up significant bullish sentiment in the coming days.

Binance Coin shows positive signs, other assets are also on par: FTX Token added 9.54% to its value, now trading at $1.36. Having closed the previous session at $0.068, TRON is up 2.41% today to currently trade at around $0.069. Bitcoin Cash is up 2.8% to $136.81.

Binance Coin has gained 24% since its lowest print of $196.72 earlier this year. Binance Coin is currently trading with a market cap of 48.70 billion with an average daily volume of 536.95 million.