After closing the previous trading day at $319.93, BNB went up to $338.16 only to drop back; still positive overall today, now trading at $329.46.
Binance Coin made an initial breakout above its 3 day Simple Moving Average at $321.08, a potential indicator of a newly emerging bullish phase. On the other hand, note that Binance Coin's upper Bollinger Band® is at $332.37, this is a slight indication of a slowdown. Binance Coin is $1.27 away from testing key resistance at $328.18. Peaking above this level could inspire market bulls and open the path to further gains.
Overall, looking at the technical analysis landscape, it seems BNB likely to continue pointing upward in the short term.
Binance Coin shows positive signs, other assets are also on par: MaticNetwork USD rallies 9.2% to trade around $0.953. Chainlink USD is up 6.43% to $7.9. Algorand USD gained 5.45% and is now trading at $0.382.
11 months ago Binance Coin reached a significant high of $655.78 but has consequently lost 51.21% since then. Binance Coin has a market cap of 52.71 billion with an average daily volume of 117.84 million.