The market is staying in the green zone today, according to CoinStats. But don’t get too excited, because…
BNB/USD
Binance Coin (BNB) is the exception to the rule, falling by 5.52%. Ouch.
On the hourly chart, the rate of BNB is on its way to the local support of $660. If the situation does not change by the end of the day, one can expect a level breakout, followed by a move to the $650 zone. Yikes.
On the bigger time frame, the picture is more bearish than bullish. The volume remains low, which means buyers are not ready to seize the initiative. 😒
In this case, a correction to the $625-$650 area is the more likely scenario within the next few days. Brace yourselves.
From the midterm point of view, one should pay attention to the weekly bar’s closure in terms of the nearest area of $700. If the bar closes far from it, bears may come back to the game, which might lead to a drop to the $600 mark. 😱
BNB is trading at $665.89 at press time. Let’s hope it doesn’t go any lower. 🙏
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2025-02-14 14:09