BNB remains constrained within a $269.65 to $279.74 range and is currently trading around the $270.23 level.
Despite being in the red so far in the current trading session, Binance Coin peaked above its 3 day Simple Moving Average around $278.81 — typically an early indicator of a new bullish trend beginning to emerge. Bollinger Bands® shows an indication of recovery: the lower band is at $254.88, a low enough level to, generally, suggest that Binance Coin is trading below its fair value. BNB could begin to recover as it approaches significant support, now $2.12 away from $272.35. Dipping below could be an indication that further losses are ahead.
Technical analysis indicates that BNB's current downtrend might soon change course and start climbing up in the short term.
In the meantime, negative performances are also seen in other markets, FTX Token dips 14.86% to trade around $1.57. After ending today's session at $0.389, Ripple lost $0.018 and is trading around $0.371. Ethereum is down to $1,207.46, losing $44.96, after closing at $1,252.43 in the preceding trading session.
11 months ago Binance Coin reached a significant high of $652.16 but has consequently lost 57.54% since then. Binance Coin has a market cap of 43.23 billion with an average daily volume of 269.41 million.