The crypto market is going up at the beginning of the week, according to CoinStats.

BNB/USD

Unlike other coins, the price of Binance Coin (BNB) has dropped by 0.6% over the last day.

On the hourly chart, the rate of BTC has made a false breakout of the local support level of $597.73. If bulls’ pressure continues, one can expect a test of the resistance by tomorrow.

On the bigger time frame, the price of the native exchange coin is far from key levels. 

If the daily bar closes near the $600 mark, sideways trading in the narrow range of $590-$620 is the more likely scenario.

From the midterm point of view, there are no reversal signals yet. If the breakout of the $600 area happens, one can expect a test of the $550 zone soon.

Binance Coin is trading at $604.86 at press time.