Trading lower, Binance Coin is currently down $3.14 as it ranges between $306.33 and $314.89 so far today.
Trend-focused traders would be interested to note that Binance Coin made an initial break below its 10 day Simple Moving Average at $310.21, a possible indication of a forthcoming negative trend. Asset volatility analysis shows that Bollinger Bands® shows an indication of recovery: the lower band is at $292.87, a low enough level to, generally, suggest that BNB is trading below its fair value. Technical analysis of Binance Coin's past price action reveals multiple support and resistance levels: BNB could begin to recover as it approaches significant support, now $5.76 away from $303.85. Dipping below could be an indication that further losses are ahead.
With market volatility ebbing, the current technical outlook indicates BNB will remain range-bound for the immediate future.
In the meantime, negative performances are also seen in other markets, UNICORN Token USD closed at $6.43 (down 2.98%).
Positive performances can be seen by looking at other markets as FTX Token added 9.54% to its value, now trading at $1.36. Having closed the previous session at $7.71, Chainlink USD is up 4% today to currently trade at around $8.02.
This year has been a bright one for BNB after trading as low as $196.72 and going on to appreciate by 25.46% year to date. BNB is currently trading with a market cap of 48.89 billion with an average daily volume of 500.67 million.