Is it the end of Binance Coin's rally? After four days of gains, it is down by 0.51% today

BNB drops from $313.56 to $311.97, losing $1.59 (0.51%) today.

Binance Coin could begin to recover as it approaches significant support, now $1.2 away from $310.77. Dipping below could be an indication that further losses are ahead. BNB's lower Bollinger Band® is at $303.39, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.

Technical analysis indicates that BNB (currently on a downtrend) might reverse course and start pointing upward in the short term.

In the meantime, negative performances are also seen in other markets, UNICORN Token USD closed at $6.43 (down 2.98%). Ripple closed at $0.423 (down 1.23%).

Positive performances can be seen by looking at other markets as FTX Token rallies 9.54% to trade around $1.36.

BNB has managed to gain 28.48% so far this year despite trading at lows around $196.72 previously. Binance Coin is currently trading with a market cap of 48.62 billion with an average daily volume of 619.73 million.