There is a slight decrease in Binance Coin (BNB) price, yet analysts note the potential for future growth.
BNB Price Changes
The rate of Binance Coin (BNB) has decreased by 0.31% over the last 24 hours. At press time, BNB is trading at $599.92.
Short-term Analysis
On the hourly chart, the price of BNB is heading toward the local resistance of $606.73. If the daily bar closes at this mark, a breakout might occur, followed by a move to the $620 zone.
Mid-term Forecast
On a larger time frame, the BNB rate is away from key levels. Traders should focus on the critical zone of $600, as holding above it might lead to an upward move to the $620-$640 range. From a mid-term perspective, there was a false breakout of the previous bar's low, indicating a potential bounce back to the middle of the channel if the weekly candle closes far from it.
The current situation with Binance Coin suggests potential volatility and growth, depending on holding key levels.
