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HomeTechnical AnalysisCrypto Price Prediction - BNB Coin Price Technical Analysis

Crypto Price Prediction – BNB Coin Price Technical Analysis

BNB coin priced at $243. From technical analysis perspective, Binance coin BNB price chart today presently experiencing downtrend on the daily timeframe. The price resides below the 50 and 20 weekly EMA indicating bearish sentiment. BNB crypto price prediction technical analysis on daily timeframe.

To comprehend the existing level of support and resistance for binance coin BNB, we must examine the historical price data. Analyzing BNB coin price daily chart reveals trading range of $242 to $261 over the recent days.

Binance coin BNB crucial support level lies at $234 significantly impacting the cryptocurrency. A dip below this level could potentially lead to further price decline, with the subsequent support level positioned at $219.

BNB token price current resistance level resides at $266. A successful breakthrough beyond this level may initiate bullish trend with the subsequent resistance level set at $286 and $301.

Utilizing technical analysis indicators such as the relative strength index RSI and moving average can enhance BNB price comprehension of the prevailing trend.

BNB Coin Crypto Price prediction – Technical Analysis

The RSI currently demonstrate reading of 48 indicating neutral zone where neither the bulls nor bears hold significant dominance.
Regarding fibonacci levels from the top of $348 to the recent bottom of $220 on the daily timeframe, BNB coin shows bearish momentum.

CRYPTO PRICE PREDICTION TECHNICAL ANALYSIS BNB COIN PRICE

BNB price currently at below 0.236 fib level and found support at the $230 to $220 level indicating bearish sign. BNB COIN PRICE is currently trading below the 0.236 level which stands at $251.

TokenBinance Coin
SymbolBNB
Time FrameBNBUSDT 1D
Support$234, $220 and $186
Resistance$266, $286 and $301
BNBUSDT 1D

Additionally the bearish flag pattern in the above image is providing resistance to BNB as the same price. If this level is broken, the next resistance will be at $286. This level holds significance as a potential support or resistance level within the trend.

Based on Fibonacci extensions and previous resistance level the upcoming target for binance coin BNB are $266, $286 and $301.

However failure to sustain above $234 might prompt further selling pressure, potentially driving binance token BNB towards key support levels at $220 and $186

Disclaimer: This technical analysis article is for informational purposes only and does not constitute financial, legal or investment advice. Please do your own research before making any decisions.

Utkarsh - CoinFTA
Utkarsh - CoinFTA
Meet Utkarsh, your trusted crypto analyst with over 6 years of experience in the dynamic world of cryptocurrency. Since entering the crypto space in 2017, Utkarsh has honed his technical analysis skills and become a seasoned expert in fundamental and technical analysis. With a passion for uncovering market trends and identifying lucrative investment opportunities, Utkarsh delivers insightful analysis to empower traders and investors. From evaluating crypto projects to exploring the possibilities of the DeFi, Metaverse, NFTs, Web3, AI and blockchain gaming, Utkarsh covers the full spectrum of the crypto ecosystem. Join COINFTA and let Utkarsh guide you through the exciting world of crypto with expertise and precision.
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