In line with the general market sentiment, BNB was traded flat for the last two weeks. But, compared to the week before, last week BNB`s coins in circulation decreased by 0.8%. This is not at all something that is usual when BNB is in question, but it shows a sort of reluctance among investors to make bets at this moment. The price of BNB was moving from $275 at the beginning of the week, down to $264 only on one occasion. The coin is ending the week around level of $270.
RSI is still not ready to head toward the overbought side of the market, as the indicator was moving between levels of 48 down to 42. Moving averages of 50 and 200 days continue to move as two parallel lines, without indication that the golden cross is in store within a short future period.
Markets are currently watching macro fundamentals, in which sense, the majority of the crypto market is set aside from their view. Significantly decreased daily trading volumes support this standing. In this sense, it could be expected for BNB to continue to move within a previous range, in a mid of the $300 resistance and the $250 support line. At this moment, there is no market strength to push the coin price to either side.
RSI is still not ready to head toward the overbought side of the market, as the indicator was moving between levels of 48 down to 42. Moving averages of 50 and 200 days continue to move as two parallel lines, without indication that the golden cross is in store within a short future period.
Markets are currently watching macro fundamentals, in which sense, the majority of the crypto market is set aside from their view. Significantly decreased daily trading volumes support this standing. In this sense, it could be expected for BNB to continue to move within a previous range, in a mid of the $300 resistance and the $250 support line. At this moment, there is no market strength to push the coin price to either side.
