BNB set for weak finish today; down 0.5% to $324.52 with 4 hours before close

Slightly weaker but mostly flat: Binance Coin is currently trading at $324.52 as it maintains an active range between $323.9 and $327.44.

Binance Coin made an initial break below its 50 day Simple Moving Average at $324.11, a possible indication of a forthcoming negative trend. BNB's upper Bollinger Band® is at $345.84 which indicates a further downward move may follow. In contrast, BNB could begin to recover as it approaches significant support, now $2.86 away from $321.67. Dipping below could be an indication that further losses are ahead.

In the short term, BNB is expected to maintain its recent downtrend and continue spiralling lower.

In the meantime, negative performances are also seen in other markets, Bitcoin Cash is trading around $117.07 (down $3.13). EOS stumbles 2.76% to trade around $1.

Other assets are showing positive performances as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36.

Binance Coin has managed to gain 32.83% so far this year despite trading at lows around $196.72 previously. Binance Coin is currently trading with a market cap of 50.58 billion with an average daily volume of 792.56 million.