BNB cryptocurrency trades up $4.46, approximately 1.44% higher this afternoon

BNB has rallied $4.46, or 1.44%, to now stand at $313.73.

Binance Coin broke through the $309.95 resistance and climbed above it $3.78; next resistance level is at $311.46. BNB made an initial breakout above its 21 day Simple Moving Average at $315.46, a potential indicator of a newly emerging bullish phase. '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. Despite this, Bollinger Band® analysis indicates that current price action is approaching the upper band at $324.42, thereby suggesting that BNB is becoming overvalued.

Binance Coin continues to move higher with technical analysis indicating the trend will continue in the short term.

Other markets are also showing gains as FTX Token is up 9.54%. Having closed the previous session at $26,854, Bitcoin is up 1.71% today to currently trade at around $27,300.

At the same time, UNICORN Token USD decreases 2.98% to trade around $6.43.

BNB has managed to gain 26.16% so far this year despite trading at lows around $196.72 previously. Binance Coin has a market cap of 48.90 billion with an average daily volume of 463.99 million.