Binance Coin Price Eyes More Upsides
Binance coin (BNB) is slowly gaining momentum as it moves higher from the $202 zone against the US Dollar. Currently trading below $225 and the 100 simple moving average (4 hours), there is a connecting bearish trend line forming with resistance near $224 on the 4-hour chart of the BNB/USD pair sourced from Binance.
Key Points:
– BNB price found support near the $202 zone after a major decline.
– The price climbed above the $212 and $215 resistance levels.
– The bears are now defending the $220 resistance zone.
– BNB price is still trading below $225 and the 100 simple moving average (4 hours).
– The next major resistance is near $230, with a potential rise toward $235 and a push above $250.
If BNB fails to clear the $225 resistance, it could experience another decline. The initial support on the downside is near the $214 level, followed by the $212 level. A downside break below $212 could lead to a drop toward the $202 support, and further losses may send the price toward the $200 support.
Overall, Binance Coin is showing signs of recovery but faces resistance in the $225 zone. A clear move above this level could indicate further bullish momentum and potential upside.
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