Without a clear-cut direction, BNB is trading around $269.79 and ranging between $268.6 and $270.64.
Binance Coin is approaching key support, around $4.52 away from $265.27. 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 3 day Simple Moving Average at $270.37, a potential indicator of a newly emerging bullish phase. 'Bullish Harami' is a candlestick chart indicator used for detecting reversals in an existing bear trend. It is generally indicated by a small price increase that's contained within a broader downward price movement and is commonly associated with a bearish trend coming to an end. BNB's upper Bollinger Band® is at $292.95 and the lower is $259.73.
Despite muted price action in BNB, chart analysis indicates it is positioned for a bullish run in the short term.
While BNB is pretty flat so far today, mixed performances are seen elsewhere as Bitcoin Cash is up 1.08%. Litecoin added 1.02% to its value, now trading at $52.17.
Approximately 11 months ago, Binance Coin reached a significant high of $655.78 but has struggled to hold onto its gains and declined 58.81% since then. BNB is currently trading with a market cap of 43.16 billion with an average daily volume of 80.20 million.