BNB value (Binance coin) is down over 25% and buying and selling beneath $250 towards the US Greenback. The value may drop additional towards the $200 help.
- Binance coin value is shifting decrease beneath the $250 help towards the US Greenback.
- The value is now buying and selling beneath $250 and the 100-day easy shifting common.
- There’s a key bearish pattern line forming with resistance close to $280 on the day by day chart of the BNB/USD pair (knowledge supply from Binance).
- The pair may speed up additional decrease if it breaks the $220 help zone.
BNB Value Continues To Bleed
Up to now few days, BNB value noticed a significant decline from nicely above $280 towards the US Greenback. The latest SEC lawsuit towards Binance isn’t serving to BNB. Additionally it is placing bearish stress on Bitcoin and Ethereum.
The final main excessive was shaped close to $352 earlier than the worth declined closely. There was a transparent transfer beneath the $280 and $250 ranges. The decline was such that the worth examined the important thing $220 help zone. BNB value is now buying and selling beneath $250 and the 100-day easy shifting common.
A low is shaped close to $221.2 and the worth is now consolidating losses. On the upside, BNB is going through resistance close to the $240 stage. The primary main resistance is close to $250. It’s near the 23.6% Fib retracement stage of the downward transfer from the $352 swing excessive to the $221 low.
Supply: BNBUSD on TradingView.com
The following main resistance is close to $270. The primary resistance is now close to $280 or the pattern line or the 50% Fib retracement stage of the downward transfer from the $352 swing excessive to the $221 low. A transparent transfer above the $280 resistance may begin a gradual improve. The following main resistance is close to the $300 stage, above which the worth may rise towards the $325 resistance.
Extra Losses?
If BNB fails to clear the $250 resistance, it may proceed to maneuver down. Preliminary help on the draw back is close to the $220 stage.
The following main help is close to the $200 stage. If there’s a draw back break beneath the $200 help, there could possibly be an prolonged decline towards the $180 help. Any extra losses may ship the worth towards the $164 help.
Technical Indicators
Every day MACD – The MACD for BNB/USD is gaining tempo within the bearish zone.
Every day RSI (Relative Energy Index) – The RSI for BNB/USD is at present beneath the 50 stage.
Main Help Ranges – $220, $200, and $180.
Main Resistance Ranges – $240, $250, and $280.