Tentatively higher from an earlier low of $322.26, BNB is up to $323.78 today, adding $1, or 0.32%, to today's closing price of $322.76.
Following today's trading session, chart analysis suggests Binance Coin could be slowing down soon as it approaches resistance at $328.03. Of course, crossing it might suggest further gains are ahead. Trend analysis indicates that BNB made an initial breakout above its 50 day Simple Moving Average at $324.08, a potential indicator of a newly emerging bullish phase. Having stamped out a session range of $322.26 to $325.74, Fibonacci-inclined BNB traders were highly concentrated around active Fibonacci resistance at $323.66. According to asset volatility analysis, Bollinger Band® analysis indicates that current price action is approaching the upper band at $340.51, thereby suggesting that BNB is becoming overvalued.
All in all, the technical analysis suggests Binance Coin has no clear-cut direction.
Other markets are also showing gains as FTX Token soars 9.54% to trade around $1.36. Having closed the previous session at $21.96, Solana is up 2.57% today to currently trade at around $22.53.
At the same time, UNICORN Token USD closed at $6.43 (down 2.98%).
This year has been a bright one for BNB after trading as low as $196.72 and going on to appreciate by 32.41% year to date. BNB is currently trading with a market cap of 50.46 billion with an average daily volume of 752.53 million.