Mixed sentiment leads Binance Coin cryptocurrency to trade sideways; establishes tight $310.05 to $314.62 range

After ending today at $311.1, today Binance Coin went up to $314.62 before paring back gains and settling around $311.15.

Following today's trading session, chart analysis suggests Binance Coin is approaching key support, around $3.15 away from $308. 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 regards to technical trend indicators, chart analysis show that Binance Coin made an initial break below its 5 day Simple Moving Average at $310.82, a possible indication of a forthcoming negative trend. Analysis based on the asset volatility indicates that BNB's upper Bollinger Band® is at $339.5 and the lower is $303.5.

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

While Binance Coin is pretty flat so far today, mixed performances are seen elsewhere as FTX Token is up 9.54% to $1.36. Having closed the previous session at $80.27, Litecoin is up 2.57% today to currently trade at around $82.33. UNICORN Token USD closed at $6.43 (down 2.98%).

This year has been a bright one for Binance Coin after trading as low as $196.72 and going on to appreciate by 26.83% year to date. Binance Coin is currently trading with a market cap of 48.50 billion with an average daily volume of 642.81 million.