{"id":182346,"date":"2023-10-06T11:40:29","date_gmt":"2023-10-06T11:40:29","guid":{"rendered":"https:\/\/precoinnews.com\/?p=182346"},"modified":"2023-10-06T11:40:29","modified_gmt":"2023-10-06T11:40:29","slug":"binance-coin-price-retraces-to-previous-level-after-rejection-at-220","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/binance-coin-price-retraces-to-previous-level-after-rejection-at-220\/","title":{"rendered":"Binance Coin Price Retraces To Previous Level After Rejection At $220"},"content":{"rendered":"
The price of the Binance coin (BNB) has remained unchanged and is moving in the same direction above the $200 support.<\/strong><\/p>\n Binance coin recovered and crossed the moving average lines on September 28,as Coinidol.com reported before. The high of $221.60 marked the end of the uptrend. BNB is now in the range bound zone. At the time of writing, the altcoin is worth $212.60.<\/p>\n BNB is moving back towards its previous range as it retraces. If the altcoin returns to the crucial support level at $203, it will resume the range bound movement and rally.<\/p>\n The BNB price bars are now below the moving average lines as a result of the recent decline. This will lead to a further decline in the value of the cryptocurrency. However, the doji candlesticks have slowed down the price movement. The horizontal tilting of the moving average lines indicates a sideways trend.<\/p>\n Key resistance levels \u2013 $300, $350, $400 <\/p>\n Binance Coin will continue to move sideways as the high at $220 was rejected. Buyers have unsuccessfully tried four times to break the resistance at $220. If the buyers manage to break the barrier at $220, the current trading range will collapse.<\/p>\n Nevertheless, buyers have continuously defended the existing support at $200. The longer candle tails indicate strong buying at lower price levels.<\/p>\n <\/p>\n Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds. <\/span><\/i><\/p>\nBinance Coin Price Long Term Forecast: Bearish<\/h2>\n
BNB (BNB) Indicator Reading <\/h2>\n
Technical Indicators:<\/h3>\n
Key support levels \u2013 $200, $150, $100<\/p>\nWhat is the next direction for BNB\/USD?<\/h2>\n