{"id":14383,"date":"2022-12-20T05:52:35","date_gmt":"2022-12-20T09:52:35","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=14383"},"modified":"2022-12-20T05:52:35","modified_gmt":"2022-12-20T09:52:35","slug":"bnb-price-rebounds-toward-250-but-risk-of-drop-to-200-still-exists","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/12\/20\/bnb-price-rebounds-toward-250-but-risk-of-drop-to-200-still-exists\/","title":{"rendered":"BNB Price Rebounds Toward $250 But Risk of Drop To $200 Still Exists"},"content":{"rendered":"

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.<\/em><\/p>\n

Binance coin price started a recovery wave from the $220 support against the US Dollar.
\nThe price is now trading below $265 and the 100 simple moving average (4-hours).
\nThere 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).
\nThe pair could start a fresh decline unless there is a clear move above the $265 resistance.<\/p>\n

Binance Coin Price Faces Resistance<\/h2>\n

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

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.<\/p>\n

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.<\/p>\n

<\/a><\/p>\n

Source: BNBUSD on TradingView.com<\/a><\/p>\n

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.<\/p>\n

Fresh Decline in BNB?<\/h2>\n

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.<\/p>\n

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.<\/p>\n

Technical Indicators<\/p>\n

4-Hours MACD \u2013 The MACD for BNB\/USD is gaining pace in the bullish zone.<\/p>\n

4-Hours RSI (Relative Strength Index) \u2013 The RSI for BNB\/USD is currently above the 50 level.<\/p>\n

Major Support Levels \u2013 $238, $230 and $220.<\/p>\n

Major Resistance Levels \u2013 $255, $265 and $275.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

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.<\/em><\/p>\n

Binance coin price started a recovery wave from the $220 support against the US Dollar.
\nThe price is now trading below $265 and the 100 simple moving average (4-hours).
\nThere 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).
\nThe pair could start a fresh decline unless there is a clear move above the $265 resistance.<\/p>\n

Binance Coin Price Faces Resistance<\/h2>\n

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

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.<\/p>\n

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.<\/p>\n

<\/a><\/p>\n

Source: BNBUSD on TradingView.com<\/a><\/p>\n

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.<\/p>\n

Fresh Decline in BNB?<\/h2>\n

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.<\/p>\n

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.<\/p>\n

Technical Indicators<\/p>\n

4-Hours MACD \u2013 The MACD for BNB\/USD is gaining pace in the bullish zone.<\/p>\n

4-Hours RSI (Relative Strength Index) \u2013 The RSI for BNB\/USD is currently above the 50 level.<\/p>\n

Major Support Levels \u2013 $238, $230 and $220.<\/p>\n

Major Resistance Levels \u2013 $255, $265 and $275.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-14383","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/14383","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=14383"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/14383\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=14383"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=14383"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=14383"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}