Mixed sentiment leads BNB cryptocurrency to trade sideways; establishes tight $321.05 to $324.83 range

Without a clear-cut direction, BNB is trading around $322.43 and ranging between $321.05 and $324.83.

Binance Coin made an initial breakout above its 50 day Simple Moving Average at $323.53, a potential indicator of a newly emerging bullish phase. Binance Coin's upper Bollinger Band® is at $345.83 and the lower is $314.87. Despite this, BNB pushed below the $321.3 support level and extended $1.13 beyond it.

Overall, looking at the technical analysis landscape, it seems Binance Coin might be pointing upward in the short term.

At the same time, 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. After ending today's session at $0.465, Ripple lost $0.011 and is trading around $0.453. Solana is down $0.842 from the beginning of the session and now trades around $21.39.

Binance Coin has managed to gain 33% so far this year despite trading at lows around $196.72 previously. BNB has a market cap of 50.25 billion with an average daily volume of 783 million.