Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
Neither bulls nor bears are dominating today, according to the CoinMarketCap ranking.
Top coins by CoinMarketCap
BNB/USD
The rate of Binance Coin (BNB) has fallen by 6.76% over the last day.
Image by TradingView
On the local chart, the rate of Binance Coin (BNB) has set the support level at $253.9. The volume remains high, which means that sellers might have started fixing their positions. If the price remains above the $250 zone, there is a chance to see a bounce back to the resistance at $268.5 tomorrow.
Image by TradingView
On the bigger time frame, the rate of BNB has tested the mirror level at $253.3. At the moment, traders should pay attention to the bar closure. If it happens with non-long wicks, the drop may continue to the $240-$250 area shortly.
Image by TradingView
From the midterm point of view, bears have seized the initiative after a breakout of the $300 area.
Currently, an interim level of $240 plays a key role for buyers. If they lose it, nothing can stop the decline to the support level at $204.8.
BNB is trading at $258.2 at press time.
Source: https://u.today/binance-coin-bnb-price-analysis-for-june-7