The cryptocurrency market continues to exhibit instability. In this article, we examine the current state and forecasts for Binance Coin (BNB).
Price Dynamics of Binance Coin
The price of Binance Coin (BNB) has decreased by 0.28% over the last 24 hours. The current quote for BNB is $657.88. The hourly chart shows a return to local support at the level of $655.92.
Short-term Forecasts
If selling pressure continues, a breakout of the support level may occur, followed by a test of the $650-$655 range. However, if the daily candle closes near $656.70, a further decline to $645 could be expected.
Medium-term Expectations
From a medium-term perspective, it is advisable to wait for the weekly candle closure. If it occurs far from the previous candle's high and without a long wick, growth may lead to a test of the resistance.
The analysis of the current situation in the Binance Coin market reveals several uncertainties. Short-term and medium-term forecasts require careful monitoring of changes in support level pressure.
