As the current session draws to a close, BNB remains in the $289.49 – $309.03 range after dropping 4.73%.
Binance Coin fell below the $303.48 support zone and moved $9.46 beyond it; the next level of support with significant buyer interest is estimated at $299.57. BNB made an initial break below its 5 day Simple Moving Average at $295.29, a possible indication of a forthcoming negative trend. Price action pushed below a known Fibonacci support level at $300.8 by around $6.79 with prices hammering out a $289.49 – $309.03 range by session close.
Overall, looking at the technical analysis landscape, it seems BNB is likely to continue pointing down in the short term.
In the meantime, negative performances are also seen in other markets, after ending today's session at $0.1, Dogecoin lost $0.005 and is trading around $0.095. Solana closed at $13.43 (down 4.87%). Ripple is down $0.012 from the beginning of the session and now trades around $0.386.
11 months ago BNB reached a significant high of $648.25 but has consequently lost 52.39% since then. BNB has a market cap of 47 billion with an average daily volume of 231.98 million.