Original U.Today article
Does rate of Binance Coin (BNB) have enough energy for sharp move?
Neither bulls nor bears are dominating at the beginning of the weekend, according to CoinStats.
![](http://u.today/sites/default/files/inline-images/top10_1152.png)
BNB/USD
The rate of Binance Coin (BNB) has risen by 0.78% since yesterday.
![](http://u.today/sites/default/files/inline-images/bnb1_81.png)
On the hourly time frame, the price of the native exchange coin is going up after a breakout of the local resistance level of $596.5. While the rate is above that mark, buyers are more powerful than sellers and there is a chance of an ongoing upward move.
![](http://u.today/sites/default/files/inline-images/bnb_272.png)
On the daily chart, today’s rise has not affected the overall technical picture. Sideways trading remains the more likely scenario as the price is far from the main levels.
Related
All in all, one can expect consolidation in the narrow range of $590-$610 within the next few days.
![](http://u.today/sites/default/files/inline-images/bnb3_81.png)
From the midterm point of view, the situation is almost the same. Any sharp ups or downs are unlikely to happen soon due to a lack of energy from both sides.
BNB is trading at $598 at press time.
About the author
With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.
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