Without a clear-cut direction, BNB is trading around $245.61 and ranging between $245.25 and $245.93.
Binance Coin is approaching key support, around $1.79 away from $243.82. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls. BNB made an initial breakout above its 10 day Simple Moving Average at $245.87, a potential indicator of a newly emerging bullish phase.
Despite muted price action in BNB, chart analysis indicates it is positioned for a bullish run in the short term.
Meanwhile, mixed performances are seen elsewhere as Ripple is trading around $0.341 (down $0.004). TRON gained 0.58% and is now trading at $0.055. Bitcoin Cash improves 1.07% to trade around $97.73.
Over the past 11 months, BNB has retreated 53.75% from a noteworthy peak of $531.4. Binance Coin is currently trading with a market cap of 39.29 billion with an average daily volume of 94.90 million.