Sat, 1/06/2024 – 18:41
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Neither bulls nor bears are dominating at the beginning of the weekend, according to CoinStats.
Advertisement
![](https://u.today/sites/default/files/inline-images/top10_1152.png)
BNB/USD
The rate of Binance Coin (BNB) has risen by 0.78% since yesterday.
![](https://u.today/sites/default/files/inline-images/bnb1_81.png)
On 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.
![](https://u.today/sites/default/files/inline-images/bnb_272.png)
On 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.
![](https://u.today/sites/default/files/inline-images/bnb3_81.png)
From 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.
BNB is trading at $598 at press time.