BNB value (Binance coin) continues to be struggling to clear the $220 resistance in opposition to the US Dollar. The value might decline closely under the $210 and $202 help ranges.
- Binance coin value is slowly shifting decrease from the $220 resistance in opposition to the US Dollar.
- The value 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 help 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 help stage.
Binance Coin Price Remains At Risk
This previous week, BNB value tried a restoration wave above the $210 stage. The value was capable of clear the $215 resistance zone. However, it didn’t clear the $220 resistance.
There was a recent decline in BNB, like Bitcoin and Ethereum. The value declined under the $215 help stage. The bears pushed the worth under the 50% Fib retracement stage of the upward transfer from the $207 swing low to the $221 excessive.
Besides, there was a break under a key bullish pattern line with help close to $214.5 on the 4-hour chart of the BNB/USD pair. The value is now buying and selling under $215 and the 100 easy shifting common (4 hours).
It is 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 worth might face resistance close to the $213 stage and the 100 easy shifting common (4 hours).
Source: BNBUSD on TradingView.com
The subsequent resistance sits close to the $215 stage. A transparent transfer above the $215 zone might ship the worth additional increased. In the acknowledged case, BNB value might take a look at the primary resistance at $220-$222. A detailed above the $222 resistance may set the tempo for a bigger improve towards the $250 resistance.
More Losses in BNB?
If BNB fails to clear the $215 resistance, it might begin one other decline. Initial help on the draw back is close to the $210 stage. The subsequent main help is close to the $207 stage.
If there’s a draw back break under the $207 help, the worth might drop towards the $202 help. 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 Strength Index) – The RSI for BNB/USD is at the moment under the 50 stage.
Major Support Levels – $210, $207, and $202.
Major Resistance Levels – $215, $220, and $222.
