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Saturday, April 13, 2024

BNB Worth Prediction – Bears Purpose Nasty Drop Beneath $200, Right here’s Why


BNB worth (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 assist ranges.

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

Binance Coin Worth Stays At Threat

This previous week, BNB worth tried a restoration wave above the $210 degree. The value was capable of 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 value declined under the $215 assist degree. The bears pushed the worth under the 50% Fib retracement degree of the upward transfer from the $207 swing low to the $221 excessive.

Moreover, there was a break under a key bullish pattern line with assist 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 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).

BNB Price Prediction

Supply: BNBUSD on TradingView.com

The subsequent resistance sits close to the $215 degree. A transparent transfer above the $215 zone may ship the worth additional increased. Within the acknowledged case, BNB worth may take a look at the primary resistance at $220-$222. An in depth above the $222 resistance would possibly set the tempo for a bigger enhance towards the $250 resistance.

Extra Losses in BNB?

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

If there’s a draw back break under the $207 assist, the worth may drop towards the $202 assist. 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 under the 50 degree.

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

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

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