Bulls remain weak against bears’ ongoing pressure.
Unlike other coins, the price of Binance Coin (BNB) has risen by 0.90% over the last 24 hours.
On the local time frame, the price of Binance Coin (BNB) is trying to break the hourly resistance level at $246.4. If the breakout occurs, the accumulated energy might be enough for a move to the $248 mark.
Thus, the volume is growing, which confirms buyers’ power.
On the bigger chart, the situation is not so clear, as the price of the native exchange coin keeps trading sideways between the $242 and the $248 mark. However, if closure above the $248 zone happens, the upward move may lead to the test of the $250 mark by mid-January.
On the daily chart against Bitcoin (BTC), the price of Binance Coin (BNB) has fixed above the support at 0.014730, which serves as the mirror level now. Until the rate is above it, bulls will be more powerful than bears. All in all, the more likely scenario is a further rise to the next resistance zone at 0.015.
BNB is trading at $246 at press time.