- Binance Coin (BNB) experienced a drop to $220 levels on December 17, 2022, and is currently trading at $232 levels.
- The important support level for BNB price is set at $220, and it is important for investors to keep it above this level.
- According to the RSI (Relative Strength Index) analysis, BNB’s current RSI level is around 16.66, indicating that an upward movement may begin.
When Binance Coin (BNB) technical analysis is examined, it can be seen that the price fell back to $220 levels after the drop on December 17, 2022, and is currently moving at $232 levels.
Can BNB Start Its Rise?
Daily BNB/USDT Price Chart
When BNB’s technical chart is examined, it can be seen that it fell to $220 levels with the downward movement on December 17, 2022. Currently, the BNB price is trading at $232 levels.
It is important for investors that the BNB price stays above the $220 level. However, if there are closings below the $220 level, the downward movement may continue up to $213 levels.
If BNB cannot maintain the $213 level, it can expand its downward movement up to $204 levels.
Binance Coin (BNB) must make daily closings above the $240 level to start its upward trend. If a closing above the $240 level occurs, the upward target can be set at $255 levels.
If the BNB price can sustain the $220 support in the coming days, it can move towards $265 levels with an upward movement from this level.
In summary, according to Binance’s technical analysis, the $220 level should be followed as an important support point, and surpassing the $240 resistance level is important for the upward trend.
RSI at Its Lowest Level in the Last Year!
In the indicator analysis conducted for Binance Coin (BNB), the RSI level is currently around 16.66.
The RSI level dropped to the 22 levels on June 13, triggering a 111% upward trend starting from the $201 levels.
According to the RSI indicator, it is expected that the BNB price will start an upward movement from this level.
In summary, in the analysis of Binance Coin’s RSI indicator, considering the current RSI level and past performance, it is expected that the BNB price will show an upward trend from this point.
