Cryptocurrency News – Binance Coin (BNB), one of the popular altcoins in the cryptocurrency market, has still not started a clear rise. Sellers are trying to take control by keeping the ropes tight at the beginning of the week.
Binance Coin (BNB) price analysis:
Binance Coin price has decreased by 0.52% in the last 24 hours. Even though the rate is not large, the fact that it has not started to rise yet makes investors nervous.
On the hourly chart, BNB price is trading in the middle of the channel. This suggests that it is accumulating energy for a sharper movement. The chances of seeing any sharp moves today are low as the cryptocurrency has crossed most of its ATR.
In this case, the most likely scenario by tomorrow is consolidation around $239.
Since neither party has taken the initiative yet, the situation has not changed on the daily chart. Therefore, until there is a clear move from the bulls or bears, a sideways trade between $235 and $245 is the most likely scenario until the end of the week.
Meanwhile, on the daily chart against Bitcoin (BTC), the bears are stronger than the bulls. Because the rate continues to fall after an attempt to correct above the 0.0084 area failed. As a result, today's close around 0.0081 is a prerequisite for a continued decline to the 0.008 region.
Binance Coin (BNB) is trading around $239.3 at the time of writing.
