Most of the cryptocurrencies are trying to hold the gained initiative and keep trading in the green zone.
The price of Binance Coin (BNB) has risen by 0.30% over the last 24 hours.
On the hourly chart, Binance Coin (BNB) is looking bullish after the false breakout of the support level at $242.5. At the moment, the price is located near the resistance at $244 against the increased volume. If the candle fixes around that level, the breakout may lead to the test of the $245 mark soon.
On the bigger time frame, the situation is the same as the price remains trading in a wide range, accumulating energy for a further move. If buyers want to come back to the game, they need to restore the price to the $248 mark.
Only in that case can traders expect a midterm rise above the $250 zone.
On the daily time frame against Bitcoin (BTC), Binance Coin (BNB) is trading near the recently formed support level at 0.014387. If today’s bar closes with no long wicks, the rise can continue to the 0.0146 mark by the end of the week.
BNB is trading at $243.4 at press time.