Mixed sentiment leads BNB cryptocurrency to trade sideways; establishes tight $313.33 to $314.57 range

Without a clear-cut direction, BNB is trading around $314.06 and ranging between $313.33 and $314.57.

Technical analysis trend indicators suggest that 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. Asset volatility analysis shows that Binance Coin's upper Bollinger Band® is at $339.82 and the lower is $310.45. As the trading day commences, technical analysis suggests Binance Coin is approaching key support, around $3.5 away from $310.57. 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.

Overall, technical indicators suggest BNB has no obvious direction 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. UNICORN Token USD stumbles 2.98% to trade around $6.43. NEAR Protocol is trading around $1.62 (down $0.038).

This year has been a bright one for Binance Coin after trading as low as $196.72 and going on to appreciate by 29.63% year to date. Binance Coin is currently trading with a market cap of 48.95 billion with an average daily volume of 689.50 million.