- BNB price has fallen nearly 7% the last week
- BNB Price has rejected off major resistance zone of $329
- 200 MA continues to act as barrier
Binance Coin (BNB) Price Overview
Binance Global Exchange is getting heat from many jurisdictions the last few weeks but this hasn’t yet to affect the price of Binance coin. BNB is still up nearly 10x from where it was last year as it has generally held its gains well throughout this bearish trend of the overall market. Since the low set on June 22nd, BNB has been steadily reviving as investors seem to be gaining confidence. A large breakout on Bitcoin will likely send BNB price right along with it.
The price of BNB is stuck within an ascending channel for nearly 3 weeks as traders show much indecision regarding the next move of Binance Coin (BNB). There have been multiple rejections on both trend lines of the channel which can prove when a break occurs, price will react sharply.
BNB has recently turned short term bearish as it experienced 2 rejections in its major resistance zone of $339-$329. Price must break & hold this mark for a strong revival to be seen.
BNB Price Analysis: BNB/USDT 4 Hour Chart
At the time of writing, BNB price sits in its major support zone of $309-$315. If bulls fail to hold this mark BNB will visit the bottom trend of its channel which is directly near a minor support of $300. If time passes with price near $300, BNB price will have likely broken below its entire ascending channel formation which would be a bearish scenario. If this occurs, price will likely sweep $291- $280. Bulls must break and hold the 200 MA to save Binance coin from this scenario.
While looking at the Stochastic RSI, we can see bears have control as strength is sitting in the oversold territory below 20. Strength must break above 20 to save BNB from further downside. The regular RSI shows indecision as it is playing around the 50 value. If the RSI can hold this mark, BNB will likely have another try at its major resistance zone.
BNB price intraday levels
- Spot rate: $316
- Trend: Neutral
- Volatility: Low
- Support: $309
- Resistance: $329
- Ripple Objects To SECs Request To Buy More Time Following Recent Court Ruling
- OpenSea’s Meteoric Rise May Trigger An Ethereum Crash, Here’s Why
- Breaking: JPMorgan Closes Uniswap (UNI) Founder’s Accounts
- UBS Warns Of Apocalyptic Crypto Winter And The Cryptocurrency Prices Are Poised To Crash
- SOL Tanks 6% As Solana Faces Another 48 Hour Outage, Boom and Bust Moment for Solana?
- Fantom (FTM) Surpasses Avalanche and Solana as DeFi TVL Crosses $12 Billion
- Buy The Dip Survey Shows 61% Of Chinese Bitcoin Investors Still Willing To Bet On Bitcoin
- Mike Novogratz Bets To Pay Peter Schiff $1 M If Bitcoin Price Stays Below $35,000 After 2022
- “At Some Point There’ll Be A Flash Crash” Says Gold Bull Peter Schiff
- Binance And FTX Worst Hit Exchanges As Losses Climb Almost Two Billion Combined
- Solana Creeps Higher, Looks To Revisit January Highs AT $177.0
- Ethereum Price Analysis: Fibonacci Retracement level 0.618 Triggers Recovery Rally In ETH Coin
- BTC Price Analysis: Death Crossover Brings Nightmares On Satoshi Street; Is This A Buying Opportunity?
- Bitcoin Death Cross Haunting Investors, Will BTC Make or Break?
- DOGE Price Analysis: Highly Influential Bearish Trendline Undermines Bullish Attempts; Buy, Sell Or Hold?
- Terra Price Analysis: Will LUNA Price Bounce Back at 0.382 Fibonacci Retracement?
- SAND Price Analysis: Sandbox Price Losses 50% Retracement Level, Good Time to Buy?
- LINK Price Analysis: Chainlink price reclaims 200-day EMA, Emerging trendline Suggests More Upward Price Movement
- Harmony Price Analysis: Rising Parallel Pattern Could Lead 30% Growth In $ONE Price
- Ripple Price Analysis: XRP Bears Struggle To Breach $0.7 Support Zone, Is A Reversal Next Move?