BNB cryptocurrency trades up $2.11, approximately 0.63% higher this morning

After closing the previous trading day at $337.18, BNB is up to $339.29, which makes for a move of 0.63%/$2.11 today.

Bollinger Band® analysis indicates that current price action is approaching the upper band at $346.59, thereby suggesting that Binance Coin is becoming overvalued. BNB could be slowing down soon; it is getting close to the resistance line and is now at $341.2, only $1.91 away. Crossing the resistance line could, however, suggest that further gains are ahead.

BNB is likely to reverse course and start pointing downward in the short term.

Other markets are also showing gains as FTX Token is up 9.54%. UNICORN Token USD is up 1.62%.

Other assets are showing mixed performances as TRON moves 0.49% to trade around $0.068.

This year has been a bright one for BNB after trading as low as $196.72 and going on to appreciate by 36.25% year to date. Binance Coin is currently trading with a market cap of 52.88 billion with an average daily volume of 771.47 million.