How great are chances to see price blast of Binance Coin (BNB)?
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BNB/USD
The rate of Binance Coin (BNB) has risen by 0.50% since yesterday.
Image by TradingView
Despite a slight rise, the rate of BNB remains bearish as the price is coming back to the local support level of $243.50. If the daily closure happens around that mark, the breakout may lead to a test of the $240 zone soon.
Image by TradingView
Today’s rise has not affected the general position of BNB on the daily time frame. Neither buyers nor sellers have seized the initiative yet, which is confirmed by the low volume.
All in all, ongoing sideways trading between $240 and $250 is the more likely scenario until the end of the week.
Image by TradingView
The rate of Binance Coin (BNB) is looking bearish on the daily chart, as the price keeps falling after a failed attempt to fix above the resistance at 0.008437. If buyers cannot get back in the game soon, there is a high chance of seeing a test of the 0.008 area shortly.
BNB is trading at $244 at press time.
Source: https://u.today/binance-coin-bnb-price-analysis-for-august-9