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May 18, 2023
After closing at $314 today, BNB opened today at $314, to be greeted by bearish sentiment that overshadowing today's price action. Irrespective of the bearish mood, BNB retains a distinct $312.59 to $314.66 daily range.
Binance Coin's upper Bollinger Band® is at $333.29 which indicates a further downward move may follow. Despite this, BNB could begin to recover as it approaches significant support, now $3.88 away from $309.07. Dipping below could be an indication that further losses are ahead.
Looking forward, BNB is poised to extend its strong downtrend and continue declining.
In the meantime, negative performances are also seen in other markets, UNICORN Token USD closed at $6.43 (down 2.98%).
Positive performances can be seen by looking at other markets as FTX Token leaps up 9.54% to trade around $1.36. Ripple is up 3.81%.
Binance Coin has managed to gain 27.69% so far this year despite trading at lows around $196.72 previously. BNB has a market cap of 48.78 billion with an average daily volume of 582.75 million.
