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Buyers are trying to restore the lost positions, according to CoinStats.
BNB/USD
The price of Binance Coin (BNB) has increased by 2.56% over the last 24 hours.
Despite today’s growth, the rate of BNB is looking bearish on the hourly chart. The price is on its way to the local support of $684.39. If a breakout happens, the accumulated energy might be enough for a test of the $680 zone soon.
On the daily time frame, one should pay attention to the nearest vital zone of $700. If the rate gets back to it and fixes above, there is a possibility of seeing ongoing growth to the $720 range until the end of the week.
From the midterm point of view, it is too early to make any long-term predictions as only a few days remain until the bar’s closure.
Related
However, if the candle closes around current prices, one may expect sideways trading in the zone of $640-$740.
BNB is trading at $686.39 at press time.