{"id":24868,"date":"2023-06-01T04:52:42","date_gmt":"2023-06-01T08:52:42","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=24868"},"modified":"2023-06-01T04:52:42","modified_gmt":"2023-06-01T08:52:42","slug":"bnb-price-prediction-risk-of-sharp-drop-below-300","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/06\/01\/bnb-price-prediction-risk-of-sharp-drop-below-300\/","title":{"rendered":"BNB Price Prediction: Risk of Sharp Drop Below $300"},"content":{"rendered":"

BNB price (Binance coin) is moving lower below the $310 support against the US Dollar. The bears could gain strength if there is a close below $300.<\/em><\/p>\n

Binance coin price is moving lower from the $318 resistance against the US Dollar.
\nThe price is now trading below $310 and the 100 simple moving average (4 hours).
\nThere was a break below a key bullish trend line with support near $310 on the 4-hour chart of the BNB\/USD pair (data source from Binance).
\nThe pair could accelerate lower if it breaks the $300 support zone.<\/p>\n

Binance Coin Price Tops Again<\/h2>\n

This past week, BNB price attempted an upside break above the $318 resistance. However, the bulls struggled to gain strength above $318, similar to Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

A high is formed near $317.1 and the price started a fresh decline. There was a clear move below the $312 and $310 levels. There was also a break below a key bullish trend line with support near $310 on the 4-hour chart of the BNB\/USD pair.<\/p>\n

BNB price is now trading below $310 and the 100 simple moving average (4 hours). A low is formed near $303.2 and the price is now consolidating losses.<\/p>\n

On the upside, BNB is facing resistance near the $306.5 level. It is close to the 23.6% Fib retracement level of the downward move from the $317.1 swing high to the $303.2 low. The first major resistance is near $310 and the 100 simple moving average (4 hours).<\/p>\n\n

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

It is close to the 50% Fib retracement level of the downward move from the $317.1 swing high to the $303.2 low. The next major resistance is near $315. A clear move above the $315 resistance might start a steady increase. The next major resistance is near the $318 level, above which the price might rise toward the $325 resistance.<\/p>\n

More Losses in BNB?<\/h2>\n

If BNB fails to clear the $310 resistance, it could continue to move down. Initial support on the downside is near the $303 level.<\/p>\n

The next major support is near the $300 level. If there is a downside break below the $300 support, there could be an extended decline toward the $292 support. Any more losses could send the price toward the $284 support.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Levels \u2013 $303, $300, and $284.<\/p>\n

Major Resistance Levels \u2013 $307, $310, and $315.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

BNB price (Binance coin) is moving lower below the $310 support against the US Dollar. The bears could gain strength if there is a close below $300.<\/em><\/p>\n

Binance coin price is moving lower from the $318 resistance against the US Dollar.
\nThe price is now trading below $310 and the 100 simple moving average (4 hours).
\nThere was a break below a key bullish trend line with support near $310 on the 4-hour chart of the BNB\/USD pair (data source from Binance).
\nThe pair could accelerate lower if it breaks the $300 support zone.<\/p>\n

Binance Coin Price Tops Again<\/h2>\n

This past week, BNB price attempted an upside break above the $318 resistance. However, the bulls struggled to gain strength above $318, similar to Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

A high is formed near $317.1 and the price started a fresh decline. There was a clear move below the $312 and $310 levels. There was also a break below a key bullish trend line with support near $310 on the 4-hour chart of the BNB\/USD pair.<\/p>\n

BNB price is now trading below $310 and the 100 simple moving average (4 hours). A low is formed near $303.2 and the price is now consolidating losses.<\/p>\n

On the upside, BNB is facing resistance near the $306.5 level. It is close to the 23.6% Fib retracement level of the downward move from the $317.1 swing high to the $303.2 low. The first major resistance is near $310 and the 100 simple moving average (4 hours).<\/p>\n

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

It is close to the 50% Fib retracement level of the downward move from the $317.1 swing high to the $303.2 low. The next major resistance is near $315. A clear move above the $315 resistance might start a steady increase. The next major resistance is near the $318 level, above which the price might rise toward the $325 resistance.<\/p>\n

More Losses in BNB?<\/h2>\n

If BNB fails to clear the $310 resistance, it could continue to move down. Initial support on the downside is near the $303 level.<\/p>\n

The next major support is near the $300 level. If there is a downside break below the $300 support, there could be an extended decline toward the $292 support. Any more losses could send the price toward the $284 support.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Levels \u2013 $303, $300, and $284.<\/p>\n

Major Resistance Levels \u2013 $307, $310, and $315.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-24868","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\/24868","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=24868"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/24868\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=24868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=24868"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=24868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}