BNB Under Pressure; Price Slides Below $230


The Binance Coin price prediction shows that BNB is facing $220 support to gain momentum to overcome the resistance level of $250.

Binance Coin Prediction Statistics Data:

  • Binance Coin price now – $225
  • Binance Coin market cap – $38.4 billion
  • Binance Coin circulating supply – 163.2 million
  • Binance Coin total supply – 163.2 million
  • Binance Coin Coinmarketcap ranking – #5

BNB/USD Market

Key Levels:

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Resistance levels: $300, $320, $340

Support levels: $150, $130, $110

BNB/USD is facing the downside as the coin heads to cross below the 9-day and 21-day moving averages. During the European session today, the Binance Coin touches the resistance level of $236 with the generally bullish market, but at the time of writing, the coin is retreating below the opening price of $231.2.

Binance Coin Price Prediction: Would BNB Price Continue the Upward Movement?

The Binance Coin price is trading at $225.6 aiming to cross below the 9-day and 21-day moving averages in the daily chart. At the time of writing, the drop is likely to be slight as the technical indicator Relative Strength Index (14) nosedives below the 50-level. The nearest support at $220 is likely to hold despite the strong arm of the bears, while sideways trading could also take precedence based on the technical indicator.

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However, for the coin to come out of the resistance range under $250, BNB/USD must pull toward $240 and focus on taking down higher hurdles at $300, $320, and $340. Nevertheless, if the bullish failed to push the coin to the upside and $200 support comes to focus, expect more support at $180 below the lower boundary of the channel, and any further support levels could be located at $150, $130, and $110.

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BNB/BTC Market: Price Shooting to the Upside

Against Bitcoin, the Binance Coin is currently above the 9-day and 21-day moving averages. On the contrary, if the coin slides below the moving averages, the 1050 SAT and below could provide a support level for the next selling pressure, but the Relative Strength Index (14) moves to cross above the upper boundary of the channel.

BNBBTC – Daily Chart

Meanwhile, after touching the daily high of 1164 SAT today, BNB/BTC price drops to where it is currently trading at 1144 SAT. However, if the support level of 1100 SAT can act as a solid line of defense against any further downtrend; the resistance level of 1250 SAT and above may come into focus.

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