BNB Price Rebounds Toward $250 But Risk of Drop To $200 Still Exists


BNB worth (Binance coin) discovered assist close to $220 in opposition to the US Greenback. BNB is rising, however the bears might take a robust stand close to the $265 zone.

  • Binance coin worth began a restoration wave from the $220 assist in opposition to the US Greenback.
  • The value is now buying and selling under $265 and the 100 easy transferring common (4-hours).
  • There’s a essential bearish development line forming with resistance close to $265 on the 4-hours chart of the BNB/USD pair (information supply from Binance).
  • The pair might begin a recent decline until there’s a clear transfer above the $265 resistance.

Binance Coin Worth Faces Resistance

This previous week, BNB worth noticed a serious decline under the $250 assist zone. It gained bearish momentum in opposition to bitcoin, ethereum and different friends. The value tumbled under the $235 assist in opposition to the US greenback and examined the $220 assist.

A low was shaped close to $220.1 and the worth not too long ago began a restoration wave. The value climbed above the $230 and $235 resistance ranges. There was a transparent transfer above the 23.6% Fib retracement stage of the important thing drop from the $291 swing excessive to $220 low.

Nevertheless, bnb worth remains to be buying and selling under $265 and the 100 easy transferring common (4-hours). On the upside, the bears are defending the $250 and $255 resistance ranges. The 50% Fib retracement stage of the important thing drop from the $291 swing excessive to $220 low can be close to the $256 stage.

Binance Coin Price BNB

Supply: BNBUSD on TradingView.com

The subsequent main resistance is close to the $265 stage. There’s additionally a vital bearish development line forming with resistance close to $265 on the 4-hours chart of the BNB/USD pair, above which the worth is prone to goal a check of the $275 stage within the close to time period. Any extra beneficial properties would possibly ship the worth in the direction of the $300 stage.

Recent Decline in BNB?

If BNB fails to clear the $265 resistance, it might begin a recent decline. An preliminary assist on the draw back is close to the $240 and $238 ranges.

The primary main assist is close to the $230 stage. The subsequent main assist is close to the $220 stage. If there’s a draw back break under the $220 assist, there could possibly be an prolonged decline in the direction of the $200 assist.

Technical Indicators

4-Hours MACD – The MACD for BNB/USD is gaining tempo within the bullish zone.

4-Hours RSI (Relative Energy Index) – The RSI for BNB/USD is at the moment above the 50 stage.

Main Help Ranges – $238, $230 and $220.

Main Resistance Ranges – $255, $265 and $275.



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