U.Today – The market is turning back to red, according to CoinMarketCap.

The price of (BNB) has gone down by 1.46% over the last 24 hours.

On the hourly chart, the rate of BNB has broken the local resistance level of $685.76. If buyers can hold the gained initiative and the bar closes far from that mark, growth is likely to continue to the $690 area and above.

On the bigger time frame, the picture is less positive. The price of the native exchange coin is far from the main levels.

Neither bulls nor bears are dominating, which means ongoing sideways trading in the range of $670-$700 is the most likely scenario.

From the midterm point of view, the situation is similar. If the weekly bar closes around current prices, traders may witness an ongoing consolidation in the zone of $660-$740 by the end of the month.

BNB is trading at $688.14 at press time.

This content was originally published on U.Today