Some coins have returned to the red zone, according to CoinStats.
BNB chart by CoinStatsBNB/USD
The rate of Binance Coin (BNB) has increased by 1.45% over the last day.
Image by TradingView
On the hourly chart, the price of BNB is near the local resistance of $561. If the daily bar closes around that mark, the upward move may continue to the $565 zone.
Image by TradingView
On the bigger time frame, one should focus on the level of $559.7. If bulls can hold the initiative and the candle fixes around it or above, the accumulated energy might be enough for an upward move to the $580 area.
Image by TradingView
From the midterm point of view, the price of BNB is far from the support and resistance levels.
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If the weekly bar closes around $560, one can expect sideways trading in the range of $550-$600 within the next days.
BNB is trading at $560.9 at press time.
