The rate of Binance Coin (BNB) has increased by 2.54% in the last 24 hours. On the hourly chart, the price of BNB is nearing local resistance at $554.50, and if buyers can maintain their momentum, a breakout to the $560 zone is expected. However, on a larger time frame, BNB is rising after a false breakout of support at $535.40, but it may take more time for bulls to gather energy to continue the upward trend. Sideways trading in the $550-$560 range is a likely scenario. From a midterm perspective, BNB is not near any significant support or resistance levels, but if the weekly bar closes around $520, there may be further decline towards the $450-$500 range. At the moment, BNB is trading at $554.50.



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