Mixed sentiment leads Binance Coin cryptocurrency to trade sideways; establishes tight $326.7 to $328.45 range

Without a clear-cut direction, BNB is trading around $327.5 and ranging between $326.7 and $328.45.

With regards to technical trend indicators, chart analysis show that Binance Coin made an initial breakout above its 10 day Simple Moving Average at $328.34, 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 $342.24, suggesting that a downward move may follow. As the day gets underway, chart analysis suggests Binance Coin is approaching key support, around $4.13 away from $323.37. 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.

With market volatility ebbing, the current technical outlook indicates Binance Coin will remain range-bound for the immediate future.

Meanwhile, mixed performances are seen elsewhere as FTX Token is up 9.54% to $1.36. UNICORN Token USD descends 2.98% to trade around $6.43. EOS is up 1.24%.

Binance Coin has managed to gain 33.75% so far this year despite trading at lows around $196.72 previously. Binance Coin is currently trading with a market cap of 51 billion with an average daily volume of 742.49 million.