Without a clear-cut direction, BNB is trading around $328.5 and ranging between $327.62 and $329.51.
As the day gets underway, chart analysis suggests Binance Coin is approaching key support, around $5.74 away from $322.77. 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. Trend-focused traders would be interested to note that investors are seeking long positions as BNB price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. According to asset volatility analysis, BNB's upper Bollinger Band® is at $327.69, suggesting that a downward move may follow.
Notwithstanding BNB's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Other markets show mixed performance as FTX Token rallies 9.54% to trade around $1.36. EOS retreats 1.12% to trade around $1.24. Cardano closed at $0.433 (down 0.98%).
Binance Coin has managed to gain 34.55% so far this year despite trading at lows around $196.72 previously. Binance Coin is currently trading with a market cap of 51.20 billion with an average daily volume of 565.17 million.