{"id":29150,"date":"2023-09-05T04:53:50","date_gmt":"2023-09-05T08:53:50","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=29150"},"modified":"2023-09-05T04:53:50","modified_gmt":"2023-09-05T08:53:50","slug":"bnb-price-topside-bias-vulnerable-if-it-continues-to-struggle-below-225","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/09\/05\/bnb-price-topside-bias-vulnerable-if-it-continues-to-struggle-below-225\/","title":{"rendered":"BNB Price Topside Bias Vulnerable If It Continues To Struggle Below $225"},"content":{"rendered":"

BNB price (Binance coin) failed to settle above $225 and trimmed gains against the US Dollar. The price could decline heavily if it trades below $210.<\/em><\/p>\n

Binance coin price tested the $235 resistance before the bears appeared against the US Dollar.
\nThe price is now trading below $220 and the 100 simple moving average (4 hours).
\nThere was a break below a key bullish trend line with support near $220 on the 4-hour chart of the BNB\/USD pair (data source from Binance).
\nThe pair might gain continue to move down unless there is a close above $225.<\/p>\n

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

In the last analysis, we discussed the chances of BNB price recovering toward the $235 resistance zone<\/a>. The price did climb higher toward the $235 resistance but failed to extend gains.<\/p>\n

It started a fresh decline from the $235 zone. There was a break below a key bullish trend line with support near $220 on the 4-hour chart of the BNB\/USD pair. The pair is now showing bearish signs below $220 and the 100 simple moving average (4 hours), like Bitcoin<\/a> and Ethereum.<\/p>\n

A low is formed near $211.1 and the price is now consolidating losses. On the upside, it is facing resistance near the $216.5 level and the 100 simple moving average (4 hours). It is close to the 23.6% Fib retracement level of the recent decline from the $235 swing high to the $211 low.<\/p>\n\n

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

A clear move above the $217 zone could send the price further higher. The next major resistance is near $225 or the 61.8% Fib retracement level of the recent decline from the $235 swing high to the $211 low, above which the price might rise toward $235. A close above the $235 resistance might set the pace for a larger increase toward the $250 resistance.<\/p>\n

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

If BNB fails to clear the $217 resistance, it could start another decline. Initial support on the downside is near the $211 level.<\/p>\n

The next major support is near the $210 level. If there is a downside break below the $210 support, the price could drop toward the $202 support. Any more losses could send the price toward the $184 support.<\/p>\n

Technical Indicators<\/p>\n

4-Hours MACD \u2013 The MACD for BNB\/USD is losing 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 $211, $210, and $202.<\/p>\n

Major Resistance Levels \u2013 $217, $225, and $235.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

BNB price (Binance coin) failed to settle above $225 and trimmed gains against the US Dollar. The price could decline heavily if it trades below $210.<\/em><\/p>\n

Binance coin price tested the $235 resistance before the bears appeared against the US Dollar.
\nThe price is now trading below $220 and the 100 simple moving average (4 hours).
\nThere was a break below a key bullish trend line with support near $220 on the 4-hour chart of the BNB\/USD pair (data source from Binance).
\nThe pair might gain continue to move down unless there is a close above $225.<\/p>\n

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

In the last analysis, we discussed the chances of BNB price recovering toward the $235 resistance zone<\/a>. The price did climb higher toward the $235 resistance but failed to extend gains.<\/p>\n

It started a fresh decline from the $235 zone. There was a break below a key bullish trend line with support near $220 on the 4-hour chart of the BNB\/USD pair. The pair is now showing bearish signs below $220 and the 100 simple moving average (4 hours), like Bitcoin<\/a> and Ethereum.<\/p>\n

A low is formed near $211.1 and the price is now consolidating losses. On the upside, it is facing resistance near the $216.5 level and the 100 simple moving average (4 hours). It is close to the 23.6% Fib retracement level of the recent decline from the $235 swing high to the $211 low.<\/p>\n

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

A clear move above the $217 zone could send the price further higher. The next major resistance is near $225 or the 61.8% Fib retracement level of the recent decline from the $235 swing high to the $211 low, above which the price might rise toward $235. A close above the $235 resistance might set the pace for a larger increase toward the $250 resistance.<\/p>\n

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

If BNB fails to clear the $217 resistance, it could start another decline. Initial support on the downside is near the $211 level.<\/p>\n

The next major support is near the $210 level. If there is a downside break below the $210 support, the price could drop toward the $202 support. Any more losses could send the price toward the $184 support.<\/p>\n

Technical Indicators<\/p>\n

4-Hours MACD \u2013 The MACD for BNB\/USD is losing 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 $211, $210, and $202.<\/p>\n

Major Resistance Levels \u2013 $217, $225, and $235.<\/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-29150","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\/29150","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=29150"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/29150\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=29150"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=29150"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=29150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}