The market has switched to red today, according to CoinStats.

BNB/USD

The rate of Binance Coin (BNB) has dropped by 2.19% since yesterday.

On the hourly chart, the price of BNB is on its way back to the local support of $643.51. 

If buyers cannot seize the initiative, traders may witness a test of the $640 zone by tomorrow.

On the daily time frame, one should focus on the nearest level of $653.46. If it breaks out and the bar closes near its low, the drop is likely to continue to the $620 range soon.

From the midterm point of view, the rate of BNB is within the previous weekly candle. As neither buyers nor sellers are dominating, ongoing sideways trading in the zone of $600-$700 is the more likely scenario.

BNB is trading at $652.70 at press time.