Coin

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Buyers could not maintain the rise, and the weekend has started with a correction on the <a href="https://u.today/xrp-price-analysis-for-august-4" rel="noopener noreferrer nofollow">cryptocurrency market</a>. 
<img alt="Top 10 coins by CoinMarketCap" data-entity-type="file" data-entity-uuid="2d952dc3-a840-4068-a7a4-cd51d7d5b301" src="https://u.today/sites/default/files/inline-images/top10_579.png"> 
Top coins by&nbsp;<a href="https://coinmarketcap.com/" rel="noopener noreferrer nofollow">CoinMarketCap</a> 
<h2 id="bnb-usd">BNB/USD</h2> 
The rate of Binance Coin (BNB) has almost not changed since yesterday. 
<img alt="BNB/USD chart byTradingView" data-entity-type="file" data-entity-uuid="06e91494-da0e-4a83-a5b3-165068a90144" src="https://u.today/sites/default/files/inline-images/bnb1_38.png"> 
Image by <a href="https://www.tradingview.com/symbols/BNBUSD" rel="noopener noreferrer nofollow">TradingView</a> 
The price of Binance Coin (BNB) has set the local resistance level at $242.2, however, it failed to fix above it. If the bar closes far from that mark, the rate of the native exchange coin may decline to the support at $240. 
Such a scenario is relevant until the end of the day. 
<img alt="BNB/USD chart byTradingView" data-entity-type="file" data-entity-uuid="b1ae49b2-8cda-4c5c-883f-85cd0880c77d" src="https://u.today/sites/default/files/inline-images/bnnb2.png"> 
Image by <a href="https://www.tradingview.com/symbols/BNBUSD" rel="noopener noreferrer nofollow">TradingView</a> 
From the technical point of view, the price of BNB is still trading sideways as the rate is in the middle of the wide channel between the support at $220 and the resistance at $260.7. 
<img alt="BNB/USD chart byTradingView" data-entity-type="file" data-entity-uuid="741cd07f-b12e-4750-a96d-a4ca31dbcd1f" src="https://u.today/sites/default/files/inline-images/bnb3_36.png"> 
Image by <a href="https://www.tradingview.com/symbols/BNBUSD" rel="noopener noreferrer nofollow">TradingView</a> 
A similar picture is on the weekly time frame as the rate is far from the support and the resistance. The falling volume confirms that the rate of BNB is not ready for a sharp move yet. In this case, sideways trading in the range of $240-$250 is the more likely scenario until mid-August. 
BNB is trading at $241.4 at press time.

Binance Coin (BNB) Price Analysis for August 5

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