Mixed sentiment leads Binance Coin cryptocurrency to trade sideways; establishes tight $311.42 to $312.84 range

A mostly flat day so far for Binance Coin, ranging between $311.42 and $312.84; currently at $311.95.

Binance Coin is approaching key support, around $1.69 away from $310.27. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls. BNB made an initial breakout above its 5 day Simple Moving Average at $312.56, a potential indicator of a newly emerging bullish phase. BNB's upper Bollinger Band® is at $336.17 and the lower is $302.3.

Despite muted price action in Binance Coin, chart analysis indicates it is positioned for a bullish run in the short term.

Meanwhile, mixed performances are seen elsewhere as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Tezos USD closed at $1.12 (down 1.76%). Cosmos USD is trading around $11.14 (down $0.203).

Binance Coin has gained 27.88% since its lowest print of $196.72 earlier this year. BNB is currently trading with a market cap of 49.25 billion with an average daily volume of 610.95 million.