Binance Coin is looking to retest and push its limits to surpass the $300 mark to tap on liquidity.<\/p>\n
Binance Coin sets eyes on $316
\nBNB price currently trades at $278.40
\nResistance spotted at $287 to $295 range<\/p>\n
Bitcoin has encountered intense selling pressure that triggered its dip to $19.5k and retesting the $20.4k zone for liquidity. Moreover, BTC has grappled to fix its clamp on the $20.8k zone seen a few weeks ago.\u00a0 a couple of weeks ago.<\/p>\n
BNB outlook based on the price action is looking bearish as it lingered at the $276 level for the most part of last week.\u00a0<\/p>\n
Binance Coin Price Skyrockets 1.36%<\/p>\n
According to CoinMarketCap<\/a>, BNB price has skyrocketed by 1.36% or trading at $278.40 as of this writing.<\/p>\n BNB has formed a descending triangle pattern seen in the middle of August while it made some swirls of lower highs from the $315 zone. <\/p>\n Similarly, BNB price has also formed a base tapping at the $270 to $275 range. A fall that dips below $271 and then retesting on the key resistance would most likely trigger BNB to plunge shooting towards $240.<\/p>\n\n Chart: TradingView.com<\/p>\n The $270 level has also maintained to be the support and resistance zone in July. The same zone has also been a fortress resisting the bearish tremors.<\/p>\n Awesome Oscillator and RSI for BNB as presented on the 4-hour chart remains to be generally bearish. The momentum indicator also wasn\u2019t able to hover above the 50 level while unable to surpass the 60 zone that hints at a bullish fervor.<\/p>\n OBV has also plunged showing magnified selling pressure. More so, a bullish crossover was also present on the Stochastic RSI that indicates a slight bounce might happen to test the resistance level. <\/p>\n Repetitive tests of a particular zone are seen to dampen the support area. In this case, the $275 zone has been tested time and again in the past couple of days with the potential to cave.<\/p>\n BNB Shows Intensified Selling Volume<\/p>\n Its bounce though might not be too significant with the $287 to $295 range acting as key resistance. Over the next couple of days, BNB might potentially hover towards $300 and $316 or $270 to $242. <\/p>\n This will depend primarily on Bitcoin\u2019s ability to protect its support zone spotted at the $19.6k-$19.8k levels.<\/p>\n Intensified selling volume and bearish movement has been observed with Binance Coin in the past couple of days. <\/p>\n There is an obvious weak accumulation at the demand zone hinting that any bounce or jump towards the $290 to $300 range might be short-lived.<\/p>\n A Bitcoin move that surpasses the $21.5k zone plus Binance Coin flipping the $300 mark for support would be pivotal to change the fate of BNB from bearish to bullish.<\/p>\n\n BNB total market cap at $44.9 billion on the daily chart | Source: TradingView.com<\/a><\/p>\n Featured image from TIME, chart from TradingView.com<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Binance Coin is looking to retest and push its limits to surpass the $300 mark to tap on liquidity.<\/p>\n Binance Coin sets eyes on $316 Bitcoin has encountered intense selling pressure that triggered its dip to $19.5k and retesting the $20.4k zone for liquidity. Moreover, BTC has grappled to fix its clamp on the $20.8k zone seen a few weeks ago.\u00a0 a couple of weeks ago.<\/p>\n BNB outlook based on the price action is looking bearish as it lingered at the $276 level for the most part of last week.\u00a0<\/p>\n Binance Coin Price Skyrockets 1.36%<\/p>\n
\nBNB price currently trades at $278.40
\nResistance spotted at $287 to $295 range<\/p>\n