The Middle of the Week Bullish for Most Coins

According to CoinMarketCap, the middle of the week is generally bullish for most cryptocurrencies.

BNB/USD

However, Binance Coin (BNB) is an exception, having declined by 0.38% since yesterday.

On the hourly chart, BNB’s price is approaching local support at $627.48. If it breaks this level, it may decline further to the $625 mark by tomorrow.

In a broader context, the outlook appears more bearish than bullish. If the daily candle closes below yesterday’s low, there could be enough momentum to test the critical $600 zone by the end of the month.

From a midterm perspective, neither bulls nor bears have taken control yet. If the weekly candle closes near current prices, sideways trading in the $600-$650 range is the likely scenario.

As of now, BNB is trading at $629.10.