$BNB Binance Coin (BNB) shows modest gains amid a narrow trading range, a possible correction, and a potential rise.
The price of Binance Coin (BNB) has experienced a 1.2% increase in the last 24 hours, remaining stable within a narrow trading channel. Currently, BNB fluctuates between a support level of $668.45 and a resistance of $673.21 on the hourly chart. This narrow range indicates a consolidation period, during which traders are watching for a decisive movement. Given that most of the Daily Average True Range (ATR) has already been covered, the likelihood of significant price volatility in the short term appears limited.
On a longer time frame, BNB has recently bounced back from resistance near $674, suggesting that this level is a critical barrier for bulls. If the daily candle closes significantly below this resistance with a pronounced wick, a short-term correction towards the support area of $665 could occur. Conversely, a strong close above this resistance could pave the way for a new bullish momentum.