• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Binance Sees $218 Million In Outflows Following CFTC Lawsuit
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Binance Sees $218 Million In Outflows Following CFTC Lawsuit
BNB Price

BNB Price Rebounds Toward $250 But Risk of Drop To $200 Still Exists

Aayush Jindal by Aayush Jindal
3 months ago
in BNB
Reading Time: 2 mins read
Advertisement
Advertisement

BNB price (Binance coin) found support near $220 against the US Dollar. BNB is rising, but the bears could take a strong stand near the $265 zone.

  • Binance coin price started a recovery wave from the $220 support against the US Dollar.
  • The price is now trading below $265 and the 100 simple moving average (4-hours).
  • There is a crucial bearish trend line forming with resistance near $265 on the 4-hours chart of the BNB/USD pair (data source from Binance).
  • The pair could start a fresh decline unless there is a clear move above the $265 resistance.

Binance Coin Price Faces Resistance

This past week, BNB price saw a major decline below the $250 support zone. It gained bearish momentum against bitcoin, ethereum and other peers. The price tumbled below the $235 support against the US dollar and tested the $220 support.

A low was formed near $220.1 and the price recently started a recovery wave. The price climbed above the $230 and $235 resistance levels. There was a clear move above the 23.6% Fib retracement level of the key drop from the $291 swing high to $220 low.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

However, bnb price is still trading below $265 and the 100 simple moving average (4-hours). On the upside, the bears are protecting the $250 and $255 resistance levels. The 50% Fib retracement level of the key drop from the $291 swing high to $220 low is also near the $256 level.

Binance Coin Price BNB

Source: BNBUSD on TradingView.com

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

The next major resistance is near the $265 level. There is also a crucial bearish trend line forming with resistance near $265 on the 4-hours chart of the BNB/USD pair, above which the price is likely to aim a test of the $275 level in the near term. Any more gains might send the price towards the $300 level.

Fresh Decline in BNB?

If BNB fails to clear the $265 resistance, it could start a fresh decline. An initial support on the downside is near the $240 and $238 levels.

The first major support is near the $230 level. The next major support is near the $220 level. If there is a downside break below the $220 support, there could be an extended decline towards the $200 support.

Technical Indicators

4-Hours MACD – The MACD for BNB/USD is gaining pace in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for BNB/USD is currently above the 50 level.

Major Support Levels – $238, $230 and $220.

Major Resistance Levels – $255, $265 and $275.

Tags: Binance CoinBNBBNB PriceBNBUSDbnbusdt
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

Related Posts

Binance Coin (BNB)

BNB Price Close Above $340 Could Spark Larger Rally To $400

2 days ago
BNB

BNB Price Surges Over 20% in a Week And Rally Seems Far From Over

2 weeks ago
BNB Price Grinds Lower

BNB Price Grinds Lower, Here’s Next Bearish Target Traders Should Watch

3 weeks ago
Binance Coin (BNB)

BNB Price Prints Bearish Technical Pattern, Why It Could Revisit $280

1 month ago
Bitcoin Crypto Market Altcoins BCH ETH XRP BNB ADA TRX EOS

BNB Price Drops After BUSD Crackdown, Upsides Turn Attractive to Bears

1 month ago
BNB

BNB Crashes 10% Amid Uncertainty Around Binance

1 month ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Don’t Miss TMS Network (TMSN) 100x Growth Train; Algorand (ALGO) And Hedera (HBAR) Holders Sinking

March 29, 2023

Riding The 2023 Bull: How Bitcoin, Ethereum, And SignUp Token Could Fuel The Next Crypto Boom

March 29, 2023

Three Unique Top Presales To Buy in 2023: RobotEra, Metropoly, Dogetti

March 29, 2023

Meta Masters Guild On Track to Become Web3’s Largest Gaming Guild: Exchange Listings, Staking, and Token Burn

March 29, 2023

Orbeon Protocol (ORBN), Bitcoin (BTC), and Monero (XMR) Gain During bank Runs

March 29, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins
  • Play Finance

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.