Struggling to find upward momentum, BNB has shed $1.04 to currently trade at $323.03 as it ranges between $318.9 and $326.97 so far today.
Trend-following investors would be interested to note that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. According to asset volatility analysis, BNB's upper Bollinger Band® is at $326.88 which indicates a further downward move may follow. Technical analysis shows that Binance Coin could begin to recover as it approaches significant support, now 77 cents away from $322.25. Dipping below could be an indication that further losses are ahead.
Notwithstanding Binance Coin's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Other assets are showing positive performances as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Having closed the previous session at $6.55, Polkadot is up 2.13% today to currently trade at around $6.69. TRON is up 0.9%.
This year has been a bright one for Binance Coin after trading as low as $196.72 and going on to appreciate by 38.24% year to date. Binance Coin has a market cap of 51 billion with an average daily volume of 116.70 million.