Binance Coin (BNB) Price Prediction for July 4

The market is not ready for a continued upward move, according to CoinStats.

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BNB chart by CoinStats

BNB/USD

The price of Binance Coin (BNB) has fallen by 0.28% over the last 24 hours.

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Image by TradingView

On the hourly chart, the rate of BNB is coming back to the local support of $655.92. If sellers' pressure continues, one can expect a level breakout, followed by a test of the $650-$655 range.

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Image by TradingView

On the longer time frame, the price of the native exchange coin has made a false breakout of yesterday's bar's low. 

However, if the daily candle closes near $656.70, traders may witness an ongoing decline to the $645 mark.

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Image by TradingView

From the midterm point of view, one should wait until the weekly candle's closure. If it happens far from the previous bar's high and with no long wick, growth may lead to a test of the resistance.

BNB is trading at $657.88 at press time.

Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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