Bulls Attempting a Comeback, Notes CoinStats
According to CoinStats, bulls are making an effort to regain control in the market.
Unlike other coins, the rate of Binance Coin (BNB) has experienced a 0.19% decline.
On the hourly chart, the price of BNB is approaching the local support level of $248.2. A potential breakout is anticipated if the daily candle closes around this mark, potentially leading to a surge towards the $245 zone.
Examining the daily time frame, the BNB rate is currently trading within yesterday’s candle, indicating a lack of initiative from either side. Consequently, ongoing sideways trading around $250 appears to be the more probable scenario in the coming days.
On the weekly chart, traders are advised to closely monitor the bar closure concerning the resistance level of $261.7. If the closure occurs near this level, there is a potential for further growth towards the $270-$280 zone.
As of press time, BNB is trading at $250.2.
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