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The bulls are looking to take the lead by the end of the day as most coin rates are back in the green zone.
The Binance Coin (BNB) rate has increased by 1% over the last 24 hours.
On the hourly chart, Binance Coin (BNB) price has begun a sharp rise after a false breakout of the local support level at $255.6. If the candle can close near the $257.9 resistance, we could see a move towards the $260 zone.
On the daily chart, the Binance Coin (BNB) rate failed to sustain yesterday’s rise. This means that native exchange coins may need more time to accumulate power to travel further.
In this case, a narrow sideways trade between $255 and $258 is the likely scenario for the next few days.
A similar situation can be seen on the daily chart against Bitcoin (BTC). At the moment, we should pay attention to the critical level of $0.01540. If the rate bounces back, we can expect a further move towards the nearest resistance at 0.015609.
BNB is trading at $257.2 at the time of writing.