The cryptocurrency market has experienced brief growth, but most assets are back in the green zone. Let's examine the current situation with Binance Coin (BNB).
Short-term Analysis of BNB
The rate of Binance Coin (BNB) has dropped by 0.87% over the last day. Despite this decline, the price is near the local resistance of $659.97. If the daily bar closes around that mark or above, the growth is likely to continue to the $665 zone.
Technical Data for Binance Coin
On the bigger time frame, the rate of BNB keeps accumulating energy for a further move. As neither buyers nor sellers are dominating, ongoing sideways trading around the current price is the more likely scenario.
Mid-term Prospects for BNB
From the mid-term perspective, the picture is also neutral. The price is within the previous weekly bar, confirming the absence of buyers' or sellers' energy. All in all, any sharp moves are unlikely to happen by the end of the week.
Binance Coin is trading at $656.96 at press time. Sharp price movements are not expected in the coming days.
