In a range-bound session favoring short positions, BNB remains constrained in a $295.38 to $307.2 range and is currently trading close to $299.69.
Binance Coin made an initial break below its 3 day Simple Moving Average at $300.18, a possible indication of a forthcoming negative trend. BNB is currently flirting with an active Fibonacci support level around $300.47. BNB's upper Bollinger Band® is at $313 which indicates a further downward move may follow. On the other hand, note that Binance Coin could begin to recover as it approaches significant support, now $6.37 away from $293.31. Dipping below could be an indication that further losses are ahead.
In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for Binance Coin.
In the meantime, negative performances are also seen in other markets, Dogecoin is trading around $0.084 (down $0.002). EOS closed at $1.04 (down 2.49%).
Positive performances can be seen by looking at other markets as FTX Token leaps up 9.54% to trade around $1.36.
BNB has gained 21.7% since its lowest print of $196.72 earlier this year. Binance Coin has a market cap of 47.94 billion with an average daily volume of 69.43 million.