{"id":4215,"date":"2022-07-02T11:23:20","date_gmt":"2022-07-02T11:23:20","guid":{"rendered":"https:\/\/freakcryptos.com\/index.php\/2022\/07\/02\/should-you-buy-bnb-at-the-current-215-support-level\/"},"modified":"2022-07-02T11:23:20","modified_gmt":"2022-07-02T11:23:20","slug":"should-you-buy-bnb-at-the-current-215-support-level","status":"publish","type":"post","link":"https:\/\/freakcryptos.com\/index.php\/2022\/07\/02\/should-you-buy-bnb-at-the-current-215-support-level\/","title":{"rendered":"Should you buy BNB at the current $215 support level?"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<ul>\n<li>\n<p dir=\"ltr\">BNB faces bearish strain at a key support degree<\/p>\n<\/li>\n<li>\n<p dir=\"ltr\">The token is down 68% from its ATH<\/p>\n<\/li>\n<li>\n<p dir=\"ltr\">Crypto market below bearish momentum, BTC trades below $20,000.<\/p>\n<\/li>\n<\/ul>\n<p dir=\"ltr\">Binance\u2019s (BNB\/USD) has remained subdued amid an prolonged bearish momentum in the sector. The token is at the moment buying and selling at $215.35, after a 3.4% decline in the previous day and a ten.72% drop in the previous week, as per\u00a0<a href=\"https:\/\/coinmarketcap.com\/currencies\/bnb\/\" rel=\"noopener noreferrer\" target=\"_blank\"><u>CoinMarketCap<\/u><\/a>. Comparatively, the flagship token, bitcoin, has tanked 10.96% in the previous week, whereas Ethereum is down 15.41%. Are we about to see a development reversal in the native Binance token, or can it commerce decrease?<\/p>\n<p dir=\"ltr\">The ongoing international growth by Binance has completed little to spice up the adoption of the native BNB token, which was initially meant for discounting charges. BNB Chain\u2019s auto-burn token mechanism, which noticed\u00a0<a href=\"https:\/\/www.binance.com\/en\/blog\/ecosystem\/19th-bnb-burn-421499824684903705\" rel=\"noopener noreferrer\" target=\"_blank\"><u>Binance burn over 1.8 million BNB tokens in April<\/u><\/a>, is but to spice up the worth of the cryptocurrency.<\/p>\n<p dir=\"ltr\">The previous value knowledge from\u00a0<a href=\"https:\/\/coinmarketcap.com\/currencies\/bnb\/\" rel=\"noopener noreferrer\" target=\"_blank\"><u>CoinMarketCap<\/u><\/a> reveals that the BNB token is on a downward development. In the previous month, the token has dropped 28.7% from a excessive of $303. The three-month value outlook reveals a decline of 51% from $444. The token has equally plunged 68% from its all-time excessive of about $675.<\/p>\n<h2><strong>BNB finds support at $215<img decoding=\"async\" src=\"https:\/\/media.igms.io\/2022\/06\/02\/1656759158602-7b1fc79a-a216-4bb9-8509-955164a45b96.png\" style=\"width: 600px\" class=\"fr-fic fr-dib\"\/><\/strong><\/h2>\n<p dir=\"ltr\">Source: Tradingview<\/p>\n<p dir=\"ltr\">According to the every day chart outlook above, BNB token is wanting bearish. The token is at the moment buying and selling at the support degree, having turned the $327 value degree into resistance. The 20 and 50-day shifting averages supply resistance to the upside, displaying potential areas of consolidation in case of a development reversal. Moreover, with the RSI at 36, BNB could possibly be set for a short-term upward development reversal.<\/p>\n<p dir=\"ltr\">Overall, the current value degree could make a super buy entry however with the affirmation of a bullish value sign. We advocate that traders stay affected person with value motion indicators earlier than shopping for at the current degree. A drop under $215 might open additional weak spot, and the token can go decrease.<\/p>\n<h3><strong>Summary<\/strong><\/h3>\n<p dir=\"ltr\">BNB token stays largely subdued amid a bearish sentiment in the cryptocurrency sector. However, traders can profit from short-term value actions earlier than the sentiment adjustments. Traders ought to wait till the token has cleared above the $215 degree earlier than going lengthy.<\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/should-you-buy-bnb-at-the-current-215-support-level\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BNB faces bearish strain at a key support degree The token is down 68% from its ATH Crypto market below bearish momentum, BTC trades below $20,000. Binance\u2019s (BNB\/USD) has remained subdued amid an prolonged bearish momentum in the sector. The token is at the moment buying and selling at $215.35, after a 3.4% decline in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2952,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[370,132,2051,116,162],"class_list":{"0":"post-4215","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market","8":"tag-bnb","9":"tag-buy","10":"tag-current","11":"tag-level","12":"tag-support"},"_links":{"self":[{"href":"https:\/\/freakcryptos.com\/index.php\/wp-json\/wp\/v2\/posts\/4215","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/freakcryptos.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/freakcryptos.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/freakcryptos.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/freakcryptos.com\/index.php\/wp-json\/wp\/v2\/comments?post=4215"}],"version-history":[{"count":1,"href":"https:\/\/freakcryptos.com\/index.php\/wp-json\/wp\/v2\/posts\/4215\/revisions"}],"predecessor-version":[{"id":4216,"href":"https:\/\/freakcryptos.com\/index.php\/wp-json\/wp\/v2\/posts\/4215\/revisions\/4216"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/freakcryptos.com\/index.php\/wp-json\/wp\/v2\/media\/2952"}],"wp:attachment":[{"href":"https:\/\/freakcryptos.com\/index.php\/wp-json\/wp\/v2\/media?parent=4215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/freakcryptos.com\/index.php\/wp-json\/wp\/v2\/categories?post=4215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/freakcryptos.com\/index.php\/wp-json\/wp\/v2\/tags?post=4215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}