Daily Chart

Binancecoin is neutral in the daily chart and teasing the top of the daily range zone at $589.

An inability to break $589 to the upside will push BNB price towards $480, however the price action towards $480 will be slow and choppy.

If Binancecoin is unable to maintain price above $480, the daily support zone (marked grey) we will see BNB in the bearish zone with price declining towards $421 and, likely, lower to $302-$352.

The interaction with $302-$352 zone will be very important and could lead to a bullish rejection.

In the bullish scenario from its current price, a daily candle closure or, even better, several closures above the key resistance of $589 are required for Binancecoin to have another bullish extension: first, to $647 and, then higher, to $717-$766.

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