BNB Price Prediction – Bears Aim Nasty Drop Below $200, Here’s Why

BNB worth (Binance coin) remains to be struggling to clear the $220 resistance towards the US Greenback. The worth might decline closely under the $210 and $202 assist ranges.

• Binance coin worth is slowly shifting decrease from the $220 resistance towards the US Greenback.
• The worth is now buying and selling under $215 and the 100 easy shifting common (4 hours).
• There was a break under a key bullish pattern line with assist close to $214.5 on the 4-hour chart of the BNB/USD pair (information supply from Binance).
• The pair may speed up decrease if it breaks the $210 assist stage.

Binance Coin Worth Stays At Threat

This previous week, BNB worth tried a restoration wave above the $210 stage. The worth was capable of clear the $215 resistance zone. Nonetheless, it didn’t clear the $220 resistance.

There was a recent decline in BNB, like Bitcoin and Ethereum. The worth declined under the $215 assist stage. The bears pushed the value under the 50% Fib retracement stage of the upward transfer from the $207 swing low to the $221 excessive.

In addition to, there was a break under a key bullish pattern line with assist close to $214.5 on the 4-hour chart of the BNB/USD pair. The worth is now buying and selling under $215 and the 100 easy shifting common (4 hours).

It’s consolidating close to the 76.4% Fib retracement stage of the upward transfer from the $207 swing low to the $221 excessive. If there’s a restoration wave, the value might face resistance close to the $213 stage and the 100 easy shifting common (4 hours).

Supply: BNBUSD on TradingView.com

The subsequent resistance sits close to the $215 stage. A transparent transfer above the $215 zone might ship the value additional greater. Within the said case, BNB worth might take a look at the principle resistance at $220-$222. A detailed above the $222 resistance may set the tempo for a bigger enhance towards the $250 resistance.

Extra Losses in BNB?

If BNB fails to clear the $215 resistance, it might begin one other decline. Preliminary assist on the draw back is close to the $210 stage. The subsequent main assist is close to the $207 stage.

If there’s a draw back break under the $207 assist, the value might drop towards the $202 assist. Any extra losses might provoke a bigger decline towards the $165 stage.

Technical Indicators

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

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

Main Assist Ranges – $210, $207, and $202.

Main Resistance Ranges – $215, $220, and $222.