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The growth continues on the market, according to CoinStats.

BNB/USD

The price of Binance Coin (BNB) keeps going up, rising by almost 3%.

On the local chart, the rate of BNB is going down after a false breakout of the resistance of $232.7. If the situation does not change by the end of the day, the drop is likely to continue to the $226 zone soon.

On the bigger time frame, the rate has almost touched the resistance of $234.8. 

However, if today's bar closes with a long wick, sellers may get back in the game, which might lead to a correction to $224.

On the weekly chart, it is too early to make any predictions. However, if the candle closes around the current prices, one can expect sideways trading in the area of $225-$230 for the next few weeks.

BNB is trading at $230 at press time.

About the author

Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at [email protected].