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 might decline closely under the $210 and $202 assist ranges.

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

Binance Coin Worth Stays At Threat

This previous week, BNB worth tried a restoration wave above the $210 stage. 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 under the $215 assist 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.

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

It’s 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 transferring common (4 hours).

Supply: BNBUSD on TradingView.com

The following resistance sits close to the $215 stage. A transparent transfer above the $215 zone might ship the worth additional increased. Within the said case, BNB worth might check the principle resistance at $220-$222. A detailed above the $222 resistance may set the tempo for a bigger enhance towards the $250 resistance.

Extra Losses in BNB?

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

If there’s a draw back break under the $207 assist, the worth might drop towards the $202 assist. 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 Power Index) – The RSI for BNB/USD is at present under the 50 stage.

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

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