More and more coins are coming back to the red zone, according to CoinStats.

BNB/USD

The rate of Binance Coin (BNB) has declined by 3.11% since yesterday.

On the hourly chart, the price of BNB is about to break the local support of $815. If it happens, the correction is likely to continue to the $800 area.

On the longer time frame, there are no reversal signals yet. The rate of the native exchange coin keeps going down after a false breakout of the resistance of $847.12. 

If the daily bar closes around the current prices or below, traders may witness a test of the $780-$800 range soon.

From the midterm point of view, one should pay attention to the weekly bar’s closure. If it happens far from the $847.12 level, there is a high chance of seeing an ongoing decline to the $800 zone and below.

BNB is trading at $814.55 at press time.