Along with the rest of the crypto market, Binance Coin (BNB) continues to trade in a sideways momentum on Monday as market uncertainty remains unabated. The third-largest cryptocurrency has traded between $600 and $540 for most of December, following its descent from $650. That said, I expect to see a fresh influx of momentum and trading volume this week, which should help BNB break above the 50 SMA line at $570, a critical near-term juncture. Furthermore, the primary target for bulls is the $600 top, where a confluence of resistance lines resides. Regardless, a sustained fall below the $540 support remains unlikely as we head into the end of the year.
Meanwhile, my resistance levels are $580, $600, and $620, and my support levels are $540, $520, and $500.
Total Market Capitalization: $2.25 trillion
Binance Coin Market Capitalization: $93 billion
Binance Coin Dominance: 4.14%
Market Rank: #3
Meanwhile, my resistance levels are $580, $600, and $620, and my support levels are $540, $520, and $500.
Total Market Capitalization: $2.25 trillion
Binance Coin Market Capitalization: $93 billion
Binance Coin Dominance: 4.14%
Market Rank: #3