The post "Crypto Price Analysis 12/6: Binance Coin (BNB)" first appeared on 36crypto.com News.
Our Binance Coin price analysis for today December 6 analyzes to check when BNB will take advantage of the market momentum and return to the bullish trend.
The bullish sentiment in the general crypto market continues to rise every day as the crypto fear & greed index for today rests at 82, representing a 10-point increase from yesterday’s 72.
Consequently, the global crypto market cap is up by 0.55% over the last 24 hours according to data from CoinMarketCap. The world’s largest cryptocurrency by trade volume, #Bitcoin continues to trade above $43,000 reaching a new yearly high of $43,900.
Similarly, the second-largest cryptocurrency #Ethereum maintains its price above $2,200. Other cryptocurrencies like Anchored Coins (AEUR) and #BakeryToken (BAKE) are some of the top gainers for today with a 158.6% and 82.34% increase in the last 24 hours respectively.
However, not all cryptocurrencies in the market are utilizing today’s trend and BNB is one of them. When will #BNB return to the bullish trend? Let us delve right in.
Binance Coin (BNB) Price Analysis
In the last day, BNB has not joined the list of rising cryptocurrencies. Its value has slightly dropped by 0.51% in the last 24 hours but has maintained a 1.60% rise in the last 7 days.
On the hourly chart, the BNB price is trading near the local support level after falsely breaking out of the $234.3 resistance zone. The price decline could reach $227 tomorrow if the candle closes close to the current level.

Looking at the daily chart, BNB continues to trade in the middle between the support and resistance levels of $224 and $238.5 respectively. The more likely scenario is sideways trading continuing around $230 as none of the sides have taken the initiative yet.

Analyzing the bigger chart, BNB appears to be more bearish than bullish since the price is around the support level of $224. If a breakout occurs, then we might likely see a further decline to the $210-$220 level.
BNB price today
According to data from Coinstats, the price of BNB today is $230. What is more, Binance Coin is the fourth-largest cryptocurrency by trade volume with a live market cap of $35,510,398,992 ($35.5 billion) and a 24-hour trading volume of $1,125,168,054 ($1 billion).

Here's an overview of Bake (BAKE):
What is Bake (BAKE)?
Bake (BAKE) is a decentralized finance (DeFi) protocol that operates on the Binance Smart Chain (BSC). It is a decentralized exchange (DEX) that enables users to trade cryptocurrencies in a trustless and permissionless manner.
Key Features:#bakebullish
1. Decentralized Exchange (DEX): Bake is a decentralized exchange that allows users to trade cryptocurrencies without relying on a central authority.
2. Liquidity Provision: Users can provide liquidity to the platform and earn rewards in the form of a share of the trading fees.
3. Staking: BAKE tokens can be staked to participate in the validation of transactions and earn additional rewards.
4. Governance: BAKE holders have a say in the governance of the platform, allowing them to vote on proposals for the development and growth of the ecosystem.
5. High APY: Bake offers attractive yields on liquidity provision and staking, making it a lucrative option for investors.
6. Security: The platform utilizes a decentralized architecture and smart contracts to ensure the security of assets.
7. Transparency: All transactions and operations are recorded on the blockchain, providing complete transparency.
8. Community-driven: The Bake community actively contributes to the development and growth of the platform.
BAKE Token:#BakeryToken
1. Tokenomics: The total supply of BAKE tokens is capped at 100 million.
2. Use Cases: BAKE tokens are used for liquidity provision, staking, governance, and paying trading fees.
3. Rewards: BAKE tokens are rewarded to liquidity providers and stakers.
Advantages:#bakeprice
1. Decentralized Finance (DeFi): Bake operates decentralized, trustless, and permissionless.
2. Liquidity Provision: Earn rewards by providing liquidity.
3. Staking: Earn rewards by staking BAKE tokens.
4. Governance: Participate in the governance of the platform.
5. High APY: Attractive yields on liquidity provision and staking.
6. Security: Decentralized architecture and smart contracts ensure asset security.
7. Transparency: All transactions and operations are recorded on the blockchain.
8. Community-driven: Active community contributes to the platform's growth.
How to Get Started:
1. Get a Binance Smart Chain (BSC) wallet: Download a BSC-compatible wallet like MetaMask or Trust Wallet.
2. Buy BAKE tokens: Purchase BAKE tokens on a cryptocurrency exchange like Binance.
3. Deposit BAKE tokens: Deposit BAKE tokens into your BSC wallet.
4. Start trading: Start trading on the Bake platform.
Remember to always do your research and stay updated on the current state of the project before making any investment decisions