BNB cryptocurrency trades up $1.65, approximately 0.51% higher this afternoon

Currently trading at $324.41, BNB remains range-bound between $322.26 and $324.44.

With regards to technical trend indicators, chart analysis show that Binance Coin made an initial breakout above its 50 day Simple Moving Average at $324.08, a potential indicator of a newly emerging bullish phase. Having stamped out a session range of $322.26 to $324.44, Fibonacci-inclined BNB traders were highly concentrated around active Fibonacci resistance at $323.66. Analysis based on the asset volatility indicates that Binance Coin's upper Bollinger Band® is at $340.51, this is a slight indication of a slowdown. Chart analysis indicates Binance Coin could be slowing down soon; it is getting close to the resistance line and is now at $328.03, only $3.62 away. Crossing the resistance line could, however, suggest that further gains are ahead.

All in all, the technical analysis suggests BNB has no clear-cut direction.

Other markets are also showing gains as FTX Token jumps 9.54% to trade around $1.36.

At the same time, UNICORN Token USD is down to $6.43, losing $0.197, after closing at $6.63 in the preceding trading session.

BNB has gained 32.41% since its lowest print of $196.72 earlier this year. Binance Coin is currently trading with a market cap of 50.56 billion with an average daily volume of 752.53 million.