Binance Coin is grinding lower from $302.71 to $298.62, shedding $4.08 (1.35%) today.
Binance Coin's lower Bollinger Band® is at $292.57, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. Despite this, after descending below strong Fibonacci support at $297.54, market bears have earmarked $286.59 as the next downside target. Binance Coin fell below the $300.08 support zone and moved $1.46 beyond it; the next level of support with significant buyer interest is estimated at $298.07.
Technical analysis shows that BNB (currently on a downtrend) might reverse course and start going up in the short term.
In the meantime, negative performances are also seen in other markets, Tezos USD is down to $1.16, losing $0.044, after closing at $1.2 in the preceding trading session. EOS slips 2.46% to trade around $1.18.
Positive performances can be seen by looking at other markets as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36.
Binance Coin has managed to gain 23.6% so far this year despite trading at lows around $196.72 previously. Binance Coin has a market cap of 47.15 billion with an average daily volume of 586.71 million.