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June 05, 2023Binance Coin trades at $304, after ending today at $304.7.
The Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. BNB's upper Bollinger Band® is at $314.69, suggesting that a downward move may follow.
Despite the market lacking direction, technical chart analysis strongly suggests Binance Coin is positioned for a downward move in the near term.
While Binance Coin is pretty flat so far today, mixed performances are seen elsewhere as FTX Token gained 9.54% and is now trading at $1.36. UNICORN Token USD is down to $6.43, losing $0.197, after closing at $6.63 in the preceding trading session. After ending today's session at $1,888.51, Ethereum lost $17.51 and is trading around $1,871.
BNB has managed to gain 25.39% so far this year despite trading at lows around $196.72 previously. BNB is currently trading with a market cap of 47.38 billion with an average daily volume of 380.18 million.
