Is it the end of BNB's rally? After four days of gains, it is down by 1.14% today

Binance Coin slides down from $322.68 to $319 today, losing $3.68 (1.14%).

Binance Coin made an initial break below its 3 day Simple Moving Average at $312.3, a possible indication of a forthcoming negative trend. Binance Coin's upper Bollinger Band® is at $326.21 which indicates a further downward move may follow. On the other hand, note that Binance Coin could begin to recover as it approaches significant support, now $1.53 away from $317.47. Dipping below could be an indication that further losses are ahead.

Following today's unexpected losses, extensive multifactorial technical analysis forecasts Binance Coin to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the BNB is expected to attract significant bearish sentiment in the coming days.

In the meantime, negative performances are also seen in other markets, TRON is down to $0.064, losing $0.002, after closing at $0.066 in the preceding trading session. Dogecoin descends 3.05% to trade around $0.082.

Positive performances can be seen by looking at other markets as FTX Token gained 9.54% and is now trading at $1.36.

This year has been a bright one for BNB after trading as low as $196.72 and going on to appreciate by 33.3% year to date. BNB is currently trading with a market cap of 50.36 billion with an average daily volume of 567.77 million.