Binance Coin (BNB) Price Prediction for May 17
05/17/2025 21:52
Can traders expect local rise from Binance Coin (BNB) next week?
Original U.Today article
Can traders expect local rise from Binance Coin (BNB) next week?
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Bears are more powerful than bulls on the first day of the weekend, according to CoinStats.
BNB/USD
The price of Binance Coin (BNB) has fallen by 4.12% over the last day.
On the hourly chart, the rate of BNB is in the middle of the local channel. However, if the growth continues, one can expect a test of the resistance by tomorrow.
On the bigger time frame, the price of the native exchange coin has made a false breakout of the $640.66 level. However, one should focus on the daily bar closure.
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If it happens around that mark, traders may witness an ongoing correction to the $630 range.
From the midterm point of view, bulls have failed to maintain the rise after the previous bullish closure. If the bar closes far from the $680 mark, a further downward move remains the more likely scenario.
BNB is trading at $641.53 at press time.