The weekend has started with an ongoing decline of most coins, according to CoinMarketCap.
BNB/USD
The rate of Binance Coin (BNB) has dropped by 3.14% over the last 24 hours.
Although BNB experienced a decline today, it’s currently hovering close to its local resistance at $600.2. If buyers manage to maintain control and keep the price around $600, there’s potential for further growth towards the $610-$620 range tomorrow.
Looking at the larger perspective, it’s uncertain which side, bulls or bears, will take control first since neither has gained significant ground. This uncertainty is supported by the minimal trading activity observed.
It’s more probable that the price will continue to merge within the range of $560 to $620 during the upcoming week.
In simpler terms, if the market behavior resembles its current pattern on the weekly chart, it’s likely that prices will hover around the present levels between $520 and $550 before the end of the month, resulting in a sideways trend.
BNB is trading at $592 at press time.
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2024-04-13 19:25