Even though the day has started bearish, most of the coins are trying to seize the initiative, according to CoinStats.
BNB/USD
The rate of Binance Coin (BNB) has increased by 0.15% over the last 24 hours.
On the hourly chart, the price of BNB is rising after a breakout of the resistance level. If bulls can hold the gained initiative, growth is likely to continue to the $590-$600 range over the weekend.
On the daily time frame, it is too early to make any predictions. Buyers may start thinking about a further upward move only if they restore the rate above the vital zone of $600.
In that case, there is a chance to see a test of the resistance of $612.6.
From the midterm point of view, traders should pay attention to same $612.60 level. If it breaks out, the accumulated energy might be enough for a move to the $700 mark.
BNB is trading at $582.20 at press time.
Read the full article here
