Binance Coin (BNB) Price Analysis for August 25



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The majority of the coins keep declining; however, there are some exceptions to the rule.

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BNB/USD

The price of Binance Coin (BNB) has decreased by 0.7% over the last 24 hours.

BNB/USD chart by TradingView

Image by TradingView

On the hourly chart, the price of Binance Coin (BNB) has made a false breakout of the resistance of $217.5. If the daily candle closes far from that mark, there is a high possibility of seeing a quicker test of the support at $213.7.

BNB/USD chart by TradingView

Image by TradingView

On the daily time frame, the price of BNB has not accumulated enough effort for a sharp move as the rate is far from the support and resistance.

Buyers might seize the initiative only if the price gets back to the $220 area and fixes above it. However, a few days might pass before it happens.

BNB/USD chart by TradingView

Image by TradingView

Another situation can be seen on the weekly chart as the price of BNB has bounced off the support level of $204.8. if the candle closes far from it, the local rise may continue to the $225-$230 area soon.

BNB is trading at $216.1 at press time.



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