BNB Price Hits $196 Low

The Binance Coin price prediction is facing a decline in the value of 5.99% after being rejected at a $218.8 resistance level.

Binance Coin Prediction Statistics Data:

• Binance Coin price now – $202
• Binance Coin market cap – $33.1 billion
• Binance Coin circulating supply – 163.2 million
• Binance Coin total supply – 163.2 million
• Binance Coin Coinmarketcap ranking – #5

BNB/USD Market

Key Levels:

Resistance levels: $290, $310, $320

Support levels: $130, $120, $110

At the time of writing, BNB/USD is heading towards the south as the price failed to break above the resistance level of $218. Looking at the daily chart, the Binance Coin shows that the price is still moving within the channel, though the price may need to retreat a little bit before heading to the upside.

Binance Coin Price Prediction: Binance Coin Price May Consolidate at $200

The Binance Coin price remains below the 9-day and 21-day moving averages, therefore, should buyers manage to power the market; they may likely find resistance levels of $290, $310, and $320. Nevertheless, bulls need to hold the $200 level to begin an upward movement.

Moreover, if the market experience more drops, it could hit the nearest support at $180 and a further drop below the lower boundary of the channel could pull the market to the support levels of $130, $120, and $110 respectively. Therefore, the technical indicator Relative Strength Index (14) is within the oversold region, indicating more bearish signals in the nearest term.

BNB/BTC Market: Price May Head to the Upside

Looking at the daily chart, BNB/BTC is moving to the upside as the price moves to cross above the channel. Moreover, Binance Coin bears may not be able to drag the price down as the 9-day moving average is crossing above the 21-day moving average, suggesting a bullish movement. On the contrary, should the price break below the moving averages, the coin may hit the support level of 950 SAT and below.

Looking at the technical indicator, the Relative Strength Index (14) is likely to cross above the 60-level. Therefore, if the bulls put more pressure, the Binance Coin price may cross above the upper boundary of the channel to reach the resistance level of 1150 SAT and above.

eToro – Our Recommended Crypto Wallet

• Exchange Wallet for 120+ Cryptocurrencies, Trade In-Wallet
• Automatic Staking of ETH, ADA or TRX in your Wallet
• Regulated by FCA, ASIC and CySEC – Millions of Users
• Unlosable Private Key – Secure eToro Recovery Service

68% of retail investor accounts lose money when trading CFDs with this provider.

Read more: