BNB Price Takes Hit But 100 SMA Could Trigger Fresh Increase

Name	Symbol	Market	Market Cap ($)	Algorithm
Binance Coin	BNBUSD	Crypto	92,399,246,528	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Binance Coin

BNBUSD

Crypto

92,399,246,528

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-2.12	-0.36%	584.89	584.86	584.98

Price Change

Price Change %

Current Price

Bid Price

Offer

-2.12

-0.36%

584.89

584.86

584.98

High Price	Low Price	Open Price	Prev. Close	52 Week Range
589.26	583.00	587.07	587.01	210.00 - 683.83

High Price

Low Price

Open Price

Prev. Close

52 Week Range

589.26

583.00

587.07

587.01

210.00 - 683.83

Exchange	Last Trade	Size	Trade Price	Currency
BINA	08:13:11	0.057000	584.89	USD

Exchange

Last Trade

Size

Trade Price

Currency

BINA

08:13:11

0.057000

584.89

USD

Price x Volume	Volume	Base Symbol	Related Pairs
8,086,894.53	13,822.41	BNB	BNBEUR	BNBGBP	BNBBTC

Price x Volume

Volume

Base Symbol

Related Pairs

8,086,894.53

13,822.41

BNB Price Takes Hit But 100 SMA Could Trigger Fresh Increase

20/04/2023 6:48am

NEWSBTC

BNB price (Binance coin) faced a strong rejection near $350 against the US Dollar. it declined heavily and now trading near the key $320 support zone. Binance coin price declined sharply from the $350 resistance against the US Dollar. The price is now trading above $320 and the 100 simple moving average (4 hours). There was a break below a major bullish trend line with support near $332 on the 4-hour chart of the BNB/USD pair (data source from Binance). The pair could start a fresh increase if it stays above $320. Binance Coin Price Regains Strength In the past few days, BNB price saw a decent increase above the $320 level, similar to Bitcoin and Ethereum. The bulls were able to pump the price above the $335 and $340 levels. However, the bears were active near the $350 level. A high was formed near $352 and the price started a major decline. There was a nasty decline below the $340 and $335 support levels. Besides, there was a break below a major bullish trend line with support near $332 on the 4-hour chart of the BNB/USD pair. The price tested the $320 support and now trading near the 100 simple moving average (4 hours). It is consolidating losses, with immediate resistance at $328. The 23.6% Fib retracement level of the downward move from the $352 swing high to the $320 low is also near $328. A clear move above the $328 resistance might spark bullish moves. The next major resistance is near the $335 level. Source: BNBUSD on TradingView.com The main resistance is forming near the $340 zone or the 61.8% Fib retracement level of the downward move from the $352 swing high to the $320 low, above which the price might rise toward the $350 resistance. Any more gains might send the price toward the $365 level. More Losses in BNB? If BNB fails to clear the $328 resistance, it could continue to move down. Initial support on the downside is near the $320 level or the 100 simple moving average (4 hours). The next major support is near the $317 level. If there is a downside break below the $317 support, there could be an extended decline toward the $300 support. Technical Indicators 4-Hours MACD – The MACD for BNB/USD is losing pace in the bearish zone. 4-Hours RSI (Relative Strength Index) – The RSI for BNB/USD is currently below the 50 level. Major Support Levels – $320, $317, and $305. Major Resistance Levels – $328, $335, and $340.

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BNBUSD Binance Coin