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May 29, 2023Trading lower, Binance Coin is currently down $2.3 as it ranges between $310.83 and $316.77 so far today.
Binance Coin's upper Bollinger Band® is at $315.62 which indicates a further downward move may follow. On the other hand, note that BNB could begin to recover as it approaches significant support, now $2.69 away from $309.43. Dipping below could be an indication that further losses are ahead.
Overall, looking at the technical analysis landscape, it seems BNB is likely to continue pointing down in the short term.
In the meantime, negative performances are also seen in other markets, MaticNetwork USD goes down 3.25% to trade around $0.912.
Other assets are showing positive performances as FTX Token is up 9.54%. Ripple improves 2.05% to trade around $0.493.
BNB has gained 27.29% since its lowest print of $196.72 earlier this year. BNB has a market cap of 48.65 billion with an average daily volume of 413 million.
