Binance Coin (BNB) Price Analysis for December 28

The majority of the coins have come back to the red zone, according to CoinMarketCap.

BNB/USD

The rate of Binance Coin (BNB) has increased by 6.28% since yesterday.

Despite today’s rise, the price of BNB is loolking bearish on the hourly chart. The rate has made a false breakout of the local resistance and keeps falling.

If bulls do not seize the initiative untli the end of the day, the correction may continue to the support of $320.

On the bigger time frame, the situation is also not as bullish as before. If today’s candle closes below yesterday’s peak, sellers may seize the initiative, which can lead to a correction to the $310-$320 zone.

From the midterm point of view, one should wait until the bar’s closure. If it happens with no long wick, the growth may continue to the nearest resistance of $350.

BNB is trading at $357 at press time.

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