Binance Coin (BNB) Price Analysis for July 26

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Sellers are back in the game as some coins are again in the red zone.

Top coins by CoinMarketCap

BNB/USD

The rate of Binance Coin (BNB) is almost unchanged since yesterday.

Image by TradingView

On the hourly chart, the rate of Binance Coin (BNB) is trading near the recently formed local resistance at $238.1. If the daily bar closes above it, the upward move may continue to the $239 mark tomorrow.

Image by TradingView

From the technical point of view, today’s slight rise has not affected the general position on the daily time frame. Thus, the volume keeps falling, which means that neither bulls nor bears have seized the initiative yet.

All in all, ongoing sideways trading in the area of $236-$240 is the more likely scenario until the end of the week.

Image by TradingView

A similar picture can be seen on the daily chart against BTC as the price is far from the support and the resistance. Traders can start thinking about a possible upward move only if the rate fixes above the nearest interim zone of 0.0082.

BNB is trading at $238.1 at press time.