BNB/USD Price Analysis – November 24
The rate of Binance Coin (BNB) has experienced a 0.81% increase over the past 24 hours.
On the hourly chart, the price of BNB is currently trading near the local support level of $233.4. If the daily bar closes in proximity to this level, a breakout could lead to a surge towards the $230 zone tomorrow.
Today’s movement has not significantly impacted the overall technical position of BNB on the daily time frame. The volume continues to decline, indicating that ongoing sideways trading in the $220-$240 range is the more likely scenario until the end of the week.
From a midterm perspective, traders should closely monitor the closure of the current bar in relation to the previous candle low. If it closes below that mark, a correction may ensue, potentially reaching the $210 zone soon.
BNB is currently trading at $233.8 at the time of this report.
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