U.Today - The week has begun with an ongoing market correction, according to CoinMarketCap.
BNB/USD
The rate of Binance Coin (BNB) has fallen by 4.27% over the last day.
On the hourly chart, the price of BNB has made a false breakout of the local resistance of $565.75. As most of the daily ATR has been passed, there are low chances of seeing sharp moves by tomorrow.
On the longer time frame, the rate of the native exchange coin is far from key levels. If the candle closes around the current prices, ongoing sideways trading in the range of $540-$580 is the most likely scenario.
From the midterm point of view, the picture is similar. The volume remains low, which means neither buyers nor sellers are ready to seize the initiative.
In this regard, traders are unlikely to witness sharp ups or downs shortly.
BNB is trading at $551.22 at press time.
This content was originally published on U.Today
