U.Today - Bulls are trying to hold the gained initiative at the end of the week, according to CoinStats.
BNB/USD
The price of Binance Coin (BNB) has risen by 2.52% over the last day.
On the hourly chart, the rate of BNB is near the local support of $605.5. However, if buyers can seize the inititive and the daily bar closes far from that mark, traders may expect a bounce back to the $620 area.
On the bigger time frame, one should focus on the nearest level of $632.14. Until its breakout happens, sellers remain more power than buyers.
Thus, the volume remains low, which means BNB is not ready yet for a sharp move.
From the midterm point of view, the rate of the native exchange coin is far from key levels. In this regard, one should pay attention to the closure in terms of the $600 mark. If the weekly bar closes with no long wick, buyers may return the price to $650.
BNB is trading at $605 at press time.
This content was originally published on U.Today
