Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

The prices of most of the coins have managed to resume a bullish trend today.

BNB/USD

The rate of Binance Coin (BNB) has risen by 0.30% over the last 24 hours.

On the hourly chart, the price of BNB has made a false breakout of the local support of $228. However, the rate has not bounced far from that mark.

If the daily bar closes near it, there is a chance to see a breakout, followed by a further decline to the $227 area.

On the bigger time frame, the situation is also more bearish than bullish as the price has failed to keep the rise going after yesterday's bullish closure. In this case, a decline to the support of $224 is the more likely scenario for the next few days.

From the midterm point of view, one should focus on the weekly bar closure in terms of the previous candle low of $224. If it happens far from that mark, there is a chance to see a correction to the $240 area soon.

BNB is trading at $228.3 at press time.