Monday, June 9, 2025
No Result
View All Result
Coins League
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis
Marketcap
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis
No Result
View All Result
Coins League
No Result
View All Result

BNB Price Could See Major Drawdown If It Fails To Stay Above This Support

January 24, 2024
in Analysis
Reading Time: 3 mins read
0 0
A A
0
Home Analysis
Share on FacebookShare on TwitterShare on E Mail


BNB value began a contemporary decline from $320 resistance zone. The worth is now retesting the $290 assist and is prone to extra downsides.

BNB value is gaining bearish momentum from the $320 resistance.
The worth is now buying and selling under $310 and the 100 easy transferring common (4 hours).
There was a break under a key bullish pattern line with assist at $315 on the 4-hour chart of the BNB/USD pair (knowledge supply from Binance).
The pair would possibly proceed to maneuver down if it fails to remain above the $290 assist.

BNB Worth Takes Hit

Up to now few days, BNB value made greater than three makes an attempt to clear the $320 resistance zone. Nonetheless, the bears remained energetic and guarded extra features.

Consequently, there was a bearish response under the $315 stage, like Bitcoin and Ethereum. There was a break under a key bullish pattern line with assist at $315 on the 4-hour chart of the BNB/USD pair. The pair even declined under the $300 stage and examined the important thing assist at $290.

A low is shaped close to $290.3, and the worth is now struggling to appropriate larger. BNB value is now buying and selling under $310 and the 100 easy transferring common (4 hours). Quick resistance is close to the $298 stage or the 23.6% Fib retracement stage of the current decline from the $320 swing excessive to the $290 low.

Supply: BNBUSD on TradingView.com

The following resistance sits close to the $305 stage. It’s near the 50% Fib retracement stage of the current decline from the $320 swing excessive to the $290 low. A transparent transfer above the $305 zone might ship the worth additional larger. Within the said case, BNB value might check $320. A detailed above the $320 resistance would possibly set the tempo for a bigger enhance towards the $335 resistance. Any extra features would possibly name for a check of the $350 stage.

Extra Downsides?

If BNB fails to clear the $305 resistance, it might proceed to maneuver down. Preliminary assist on the draw back is close to the $290 stage.

The following main assist is close to the $285 stage. The primary assist sits at $272. If there’s a draw back break under the $272 assist, the worth might drop towards the $250 assist. Any extra losses might provoke a bigger decline towards the $220 stage.

Technical Indicators

4-Hours MACD – The MACD for BNB/USD is gaining tempo within the bearish zone.

4-Hours RSI (Relative Power Index) – The RSI for BNB/USD is presently under the 50 stage.

Main Help Ranges – $290, $285, and $272.

Main Resistance Ranges – $298, $305, and $320.

Disclaimer: The article is offered for instructional functions solely. It doesn’t signify the opinions of NewsBTC on whether or not to purchase, promote or maintain any investments and naturally investing carries dangers. You might be suggested to conduct your personal analysis earlier than making any funding choices. Use data offered on this web site solely at your personal threat.



Source link

Tags: BNBDrawdownFailsMajorPriceStaySupport
Previous Post

Anticipating a Bitcoin Marketing Blitz at the Super Bowl | by Joshua Moroles | The Dark Side | Jan, 2024

Next Post

SEC Targets Ripple’s Business In Latest Filing

Related Posts

XRP Wave Structure Predicts Wild Fluctuations On Its Way To $4 ATH
Analysis

XRP Wave Structure Predicts Wild Fluctuations On Its Way To $4 ATH

June 6, 2025
XRP price forecast as Ripple USD (RLUSD) volume drops
Analysis

XRP price forecast as Ripple USD (RLUSD) volume drops

June 7, 2025
Bitcoin at $104K, but falling MVRV ratio hints at short-term correction
Analysis

Bitcoin at $104K, but falling MVRV ratio hints at short-term correction

June 7, 2025
XRP Price Sends Mixed Signals After 4 Green Daily Closes, Crash Or Rally?
Analysis

XRP Price Sends Mixed Signals After 4 Green Daily Closes, Crash Or Rally?

June 6, 2025
A Buying Opportunity or Warning Sign?
Analysis

A Buying Opportunity or Warning Sign?

June 7, 2025
Can Bulls Defend This Critical Support Level?
Analysis

Can Bulls Defend This Critical Support Level?

June 8, 2025
Next Post
SEC Targets Ripple’s Business In Latest Filing

SEC Targets Ripple's Business In Latest Filing

HoloTile: Disney’s Breakthrough in Enhancing VR Mobility

HoloTile: Disney's Breakthrough in Enhancing VR Mobility

Analyst Predicts Potential Drop To $0.28

Analyst Predicts Potential Drop To $0.28

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Twitter Instagram LinkedIn RSS Telegram
Coins League

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at Coins League

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Web3

SITEMAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2023 Coins League.
Coins League is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis

Copyright © 2023 Coins League.
Coins League is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In