The rate of Binance Coin (BNB) has risen by 0.78% since yesterday.
Image by TradingViewOn the hourly time frame, the price of the native exchange coin is going up after a breakout of the local resistance level of $596.5. While the rate is above that mark, buyers are more powerful than sellers and there is a chance of an ongoing upward move.
Image by TradingViewOn the daily chart, today’s rise has not affected the overall technical picture. Sideways trading remains the more likely scenario as the price is far from the main levels.
All in all, one can expect consolidation in the narrow range of $590-$610 within the next few days.
Image by TradingViewFrom the midterm point of view, the situation is almost the same. Any sharp ups or downs are unlikely to happen soon due to a lack of energy from both sides.
With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.
