Binance Coin is currently in a strong uptrend, and the $470 support still holds. Later today, we anticipate BNB/USD to move back toward the $510 mark and complete the several-day retracement.
On the downside, we can expect Binance Coin to continue with a bullish momentum as long as the $470 support holds. Crucially, this is now beginning to act as a key horizontal support level. As such, we expect BNB/USD to consolidate at this level before continuing with the uptrend. We can see that NB/USD has been following an ascending channel since its breakout from the October 30th low at $375. The relative strength index (RSI) is also consolidating around 55 levels which shows that neither party is currently in control of the price action.
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