The Binance Coin has been able to shake off a lot of negative press it has incurred for the better part of the last three months, staging a remarkable move that has seen it gain $40 in the space of one week. The latest of the numerous crisis the Binance exchange has had to deal with comes from the UK, where a London court ordered the exchange to track down those behind a $2.6m heist.
The funds were said to be stolen from the Binance account of an entity linked with Fetch.ai and resold in an hour at a lower price, as reported by Reuters. A Binance spokesman confirms the exchange is actively seeking to help the individual recover his funds.
The Binance Coin is currently trading 3.98% higher as of writing.
The active daily candle is testing the 428.02 resistance. A break of this level targets 450.60, marking the first time price would attain this level since the May price collapse. If the advance continues, then 479.94 comes into the picture as a new target.
On the flip side, a failure to breach 428.02 allows for a pullback that tests the 400.01 psychological level, where the 15 August candle found a pivot to spring from. If the correction continues, 379.84 and 357.04 come into the picture in a role reversal to serve as support targets. 333.89 and 314.94 only become available if the price breaks down the channel’s lower border at 357.04.