Mixed sentiment leads Binance Coin cryptocurrency to trade sideways; establishes tight $309.91 to $311.76 range

Binance Coin is now trading at $310.76 after tracing out a steady $309.91 – $311.76 range today.

Japanese candlestick formations show 'Bullish Harami' is a candlestick chart indicator used for detecting reversals in an existing bear trend. It is generally indicated by a small price increase that's contained within a broader downward price movement and is commonly associated with a bearish trend coming to an end. Trend-following investors would be interested to note that Binance Coin made an initial breakout above its 5 day Simple Moving Average at $311.32, a potential indicator of a newly emerging bullish phase. Analysis based on the asset volatility indicates that Binance Coin's upper Bollinger Band® is at $330.93, suggesting that a downward move may follow. Technical analysis shows that BNB is approaching key support, around $1.06 away from $309.7. 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.

The current technical outlook indicates Binance Coin will continue to ebb sideways within tight ranges for the immediate future.

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. Dogecoin is up 2.12%. Having closed the previous session at $6.37, UNICORN Token USD is up 1.62% today to currently trade at around $6.47.

Binance Coin has gained 27.24% since its lowest print of $196.72 earlier this year. Binance Coin is currently trading with a market cap of 49 billion with an average daily volume of 571.49 million.