BNB slides down from $330.72 to $321.53 today, losing $9.19 (2.78%).
Concerning technical analysis and more specifically, trend indicators, Binance Coin made an initial break below its 50 day Simple Moving Average at $319.87, a possible indication of a forthcoming negative trend. Japanese candlestick formations show 'Bullish Harami' is a candlestick chart indicator used for detecting reversals in an existing bear trend. It is generally indicated by a small price increase that's contained within a broader downward price movement and is commonly associated with a bearish trend coming to an end. Analysis based on the asset volatility indicates that Binance Coin's lower Bollinger Band® is at $310.58, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. Support/Resistance levels obtained from chart analysis indicate that BNB fell below the $329.87 support zone and moved $8.34 beyond it; the next level of support with significant buyer interest is estimated at $324.83.
Overall, the technical outlook suggests Binance Coin is likely to remain muted for the immediate future, with no clear-cut direction.
BNB has managed to gain 37.74% so far this year despite trading at lows around $196.72 previously. BNB is currently trading with a market cap of 50.11 billion with an average daily volume of 728.95 million.