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.
card
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.
