BNB/USD Price May Slide Below $280 Low

The Binance Coin price prediction reveals that BNB may head to the downside, and the dip could get worse.

Binance Coin Prediction Statistics Data:

• Binance Coin price now – $289.9
• Binance Coin market cap – $46.3 billion
• Binance Coin circulating supply – 159.9 million
• Binance Coin total supply – 159.9 million
• Binance Coin Coinmarketcap ranking – #4

BNB/USD Market

Key Levels:

Resistance levels: $350, $370, $390

Support levels: $240, $220, $200

BNB/USD may not be able to follow the bullish movement as the coin may cross below the 21-day moving average to face the downside. The Binance Coin price is currently trading at $289.9 and could fall more if it crosses below the support level of $280.

Binance Coin Price Prediction: BNB Price May Move Sideways

The Binance Coin price is moving sideways within the 9-day and 21-day moving averages, any bearish movement below this barrier may increase the short-term selling pressure as the critical supports could be found at $240, $220, and $200. Meanwhile, any bullish movement towards the upper boundary of the channel may hit the resistance levels at $350, $370, and $390.

On the contrary, the technical indicator could start a new bearish session if the Relative Strength Index (14) remains below the 50-level. It is, however, not clear how long the session will last because, in the last few weeks, both bullish and bearish sessions have been frequent. Therefore, it is important to keep monitoring the resistance and support levels coupled with the movement of other indicators within the daily chart.

Against Bitcoin, the market price is hovering below the 9-day and 21-day moving averages as the coin trades around 1702 SAT. Meanwhile, if the coin makes a cross above the moving averages, the bulls may push the price to the upside.

Meanwhile, if the market drops below the lower boundary of the channel, the price might hit the support at 1500 SAT and below. On the bullish side, a possible rise may push the market towards the upper boundary of the channel, crossing above this barrier could hit the resistance level of 1950 SAT and above. The technical indicator Relative Strength Index (14) may begin to move sideways if the signal line continues to move in the same direction.

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