Binance Coin Price Analysis: BNB retests $440 resistance, a retracement to follow?

TL;DR Breakdown Binance Coin price analysis is bearish for today.BNB/USD could not breach the $440 resistance today.Binance Coin starts to head lower. Binance Coin price analysis is bearish today as the market struggled to break past the $440 resistance. As BNB/USD has formed a consolidation below the $440 resistance, we expect the market to retrace over the next 24 hours and set a higher low. Cryptocurrency heat map. Source: Coin360 The cryptocurrency market traded slightly in the red over the last 24 hours. The market leader, Bitcoin, is down by 1.11 percent, while Ethereum is down by 3.17 percent. Meanwhile, Avalanche (AVAX) is the best performer, with a gain of 22 percent. Binance Coin price movement in the last 24 hours: Binance Coin consolidates below $440 resistance BNB/USD traded in a range of $422.54 – $436.42, indicating low volatility over the last 24 hours. Trading volume has decreased by 6.24 percent and totals $1.75 billion, while the total market cap trades around $71.22 billion, ranking the coin in 4th place overall. BNB/USD 4-hour chart: BNB set to retrace? On the 4-hour chart,  BNB/USD 4-hour chart. Source: TradingView Binance Coin price action has seen a reduction of volatility over the past days compared to what we saw last week. After peaking below the $510 mark, BNB/USD saw a rapid decline of more than 25 percent, with support, found around $375-$390 area. From there, Binance Coin traded i...