The market keeps falling today, according to CoinMarketCap.

BNB/USD

The price of Binance Coin (BNB) is unchanged since yesteday.

On the hourly chart, the rate of BNB has broken the local support of $616.85. If the fall continues, one can expect a test of the vital area of $600 by tomorrow.

On the bigger time frame, bulls have failed to keep the growth going after yesterday’s bullish closure. 

If the picture does not change by the end of the day, there is a chance to see an ongoing drop to the $550-$575 area shortly.

From the midterm point of view, it is too early to make any distant predictions. However, if the bar closes near its low and with no long wick, the correction is likely to continue to the $500 mark.

BNB is trading at $614.82 at press time.