Slightly weaker but mostly flat: Binance Coin is currently trading at $267.39 as it maintains an active range between $267.07 and $273.63.
Despite being in the red so far in the current trading session, Binance Coin peaked above its 5 day Simple Moving Average around $273.61 — typically an early indicator of a new bullish trend beginning to emerge. In contrast, BNB could begin to recover as it approaches significant support, now $1.76 away from $269.15. Dipping below could be an indication that further losses are ahead. Price action pushed below a known Fibonacci support level at $267.57 by around $0.175 with prices hammering out a $267.07 – $273.63 range by session close.
Technical analysis shows that Binance Coin (currently on a downtrend) might reverse course and start going up in the short term.
BNB is now trading 58.21% below the significant high of $652.16 it set around 11 months ago. Binance Coin is currently trading with a market cap of 42.78 billion with an average daily volume of 259.64 million.