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 may decline closely beneath the $210 and $202 help ranges.

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

Binance Coin Worth Stays At Threat

This previous week, BNB worth tried a restoration wave above the $210 degree. The worth was in a position to 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 beneath the $215 help degree. The bears pushed the worth beneath the 50% Fib retracement degree of the upward transfer from the $207 swing low to the $221 excessive.

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

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

Supply: BNBUSD on TradingView.com

The following resistance sits close to the $215 degree. A transparent transfer above the $215 zone may ship the worth additional larger. Within the said case, BNB worth may check the principle resistance at $220-$222. An in depth above the $222 resistance would possibly set the tempo for a bigger improve towards the $250 resistance.

Extra Losses in BNB?

If BNB fails to clear the $215 resistance, it may begin one other decline. Preliminary help on the draw back is close to the $210 degree. The following main help is close to the $207 degree.

If there’s a draw back break beneath the $207 help, the worth may drop towards the $202 help. Any extra losses may provoke a bigger decline towards the $165 degree.

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 at the moment beneath the 50 degree.

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

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