Bears Target Fresh Lows Below $300


BNB worth (Binance coin) is struggling to clear the $315 resistance in opposition to the US Greenback. It’s declining and stays liable to a transfer beneath $300.

  • Binance coin worth is shifting decrease from the $315 resistance in opposition to the US Greenback.
  • The value is now buying and selling beneath $312 and the 100 easy shifting common (4 hours).
  • There’s a key bearish pattern line forming with resistance close to $314 on the 4-hour chart of the BNB/USD pair (knowledge supply from Binance).
  • The pair may speed up decrease if it breaks the $305 assist zone.

Binance Coin Worth Dips Once more

This previous week, BNB worth tried an upside break above the $312 resistance. Nevertheless, the bulls struggled to realize power above $315, just like Bitcoin and Ethereum.

A excessive is fashioned close to $315.5 and the worth is now shifting decrease. There was a transfer beneath the 50% Fib retracement degree of the upward transfer from the $304 swing low to the $315 excessive. BNB worth is now buying and selling beneath $312 and the 100 easy shifting common (4 hours).

There may be additionally a key bearish pattern line forming with resistance close to $314 on the 4-hour chart of the BNB/USD pair. It looks like the worth is now approaching the $305 assist.

BNB Price Prediction

Supply: BNBUSD on TradingView.com

On the upside, BNB is dealing with resistance close to the $312 degree and the 100 easy shifting common (4 hours). The following main resistance is close to the pattern line or $315. A transparent transfer above the $315 resistance may spark bullish strikes. The following main resistance is close to the $320 degree, above which the worth may rise towards the $332 resistance. Any extra positive aspects may ship the worth towards the $340 degree.

Extra Losses in BNB?

If BNB fails to clear the $315 resistance, it may proceed to maneuver down. Preliminary assist on the draw back is close to the $307 degree.

The following main assist is close to the $305 degree. If there’s a draw back break beneath the $305 assist, there may very well be an prolonged decline towards the $300 assist. Any extra losses may ship the worth towards the $284 assist.

Technical Indicators

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

4-Hours RSI (Relative Power Index) – The RSI for BNB/USD is presently beneath the 50 degree.

Main Help Ranges – $305, $300, and $284.

Main Resistance Ranges – $312, $315, and $320.



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