Binance Coin is grinding lower from $348 to $339.39, shedding $8.61 (2.47%) today.
BNB's notable support and resistance levels: Binance Coin could begin to recover as it approaches significant support, now $4.19 away from $335.2. Dipping below could be an indication that further losses are ahead. Concerning technical analysis and more specifically, trend indicators, investors are seeking long positions as Binance Coin price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Analysis based on the asset volatility indicates that Binance Coin's upper Bollinger Band® is at $339.9 which indicates a further downward move may follow.
Overall, while Binance Coin has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
In the meantime, negative performances are also seen in other markets, Bitcoin is down to $29,400, losing $900, after closing at $30,300 in the preceding trading session. Algorand USD is trading around $0.222 (down $0.013).
Positive performances can be seen by looking at other markets as FTX Token is up 9.54%.
Binance Coin has managed to gain 42.28% so far this year despite trading at lows around $196.72 previously. BNB has a market cap of 52.90 billion with an average daily volume of 605.10 million.