U.Today – Bulls are trying to hold the initiative, and most of the coins remain in the green zone, according to CoinMarketCap.

The rate of (BNB) has increased by 0.87% over the last 24 hours.

On the hourly chart, the price of BNB has made a false breakout of the local resistance of $691.54. However, if the daily bar closes near that mark or even above it, growth may continue to the $700 zone tomorrow.

On the bigger time frame, the picture is less bullish. The rate of the native exchange coin is in the middle of the channel, between the support of $627.99 and the resistance of $750.01.

As none of the sides is dominating, ongoing sideways trading is the more likely scenario until the end of the week.

From the midterm point of view, neither buyers nor sellers are dominating. If the weekly bar closes near current prices, traders may expect consolidation around $700 in the next few days.

BNB is trading at $690.70 at press time.

This content was originally published on U.Today