U.Today – Sellers are controlling the situation at the beginning of the week, according to CoinStats.

The price of (BNB) has fallen by 3.11% over the last 24 hours.

On the hourly chart, the rate of BNB has made a false breakout of the local support of $633.28. As most of the ATR has been passed, there are low chances of seeing sharp moves by the end of the day.

On the bigger time frame, the price of the native exchange coin keeps falling after yesterday’s bearish closure.

If the sutuation does not change by the end of the day, the correction is likely to continue to the $600-$620 area.

From the midterm point of view, the picture is less clear. However, if the weekly candle is below the previous bar’s low of $630, traders may witness further downward move to the vital zone of $600.

Binance Coin is trading at $637 at press time.

This content was originally published on U.Today