BNB Price Prediction – Bears Aim Nasty Drop Below $200, Here’s Why

BNB value (Binance coin) continues to be struggling to clear the $220 resistance in opposition to the US Greenback. The value may decline closely under the $210 and $202 help ranges.

• Binance coin value is slowly transferring decrease from the $220 resistance in opposition to the US Greenback.
• The value 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 help 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 help stage.

Binance Coin Value Stays At Threat

This previous week, BNB value tried a restoration wave above the $210 stage. The value was in a position to clear the $215 resistance zone. Nonetheless, it did not clear the $220 resistance.

There was a recent decline in BNB, like Bitcoin and Ethereum. The value declined under the $215 help 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 help close to $214.5 on the 4-hour chart of the BNB/USD pair. The value 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 may 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 may ship the worth additional larger. Within the acknowledged case, BNB value may take a look at the primary resistance at $220-$222. A detailed above the $222 resistance may 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 stage. The following main help is close to the $207 stage.

If there’s a draw back break under the $207 help, the worth may drop towards the $202 help. Any extra losses may 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 Energy Index) – The RSI for BNB/USD is at the moment under the 50 stage.

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

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