The crypto market is mainly bullish today, according to CoinStats.

BNB  chart by CoinStatsBNB/USD

The rate of Binance Coin (BNB) has gone up by 5% over the last day.

Image by TradingView

On the hourly chart, the price of BNB might have found a local resistance level of $548.20. If the weekly bar closes far from that mark, bears may come back to the game, which may lead to a drop to the $530 range.

Image by TradingView

On the bigger time frame, the growth of BNB continues after yesterday's bullish closure. However, if the candle closes far from its peak, there is a possibility to see a rollback to the $520-$530 zone soon.

Image by TradingView

On the weekly chart, the rate of the native exchange coin is far from the support and resistance levels. 

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As none of the sides is dominating, ongoing sideways trading in the wide area of $520-$600 is the most likely scenario.

BNB is trading at $539 at press time.