- BNB is approaching the support level at 210, which could result in a positive response. However, a drop below 210 would be a negative signal.
- Binance Coin is currently within a medium to long-term downtrend channel, indicating that investors have been selling BNB at lower prices over time, which is a negative development for BNB.
- BNB has broken the support level at 250, which suggests further declines. Technically, BNB is generally viewed negatively in the long term.
In our current BNB (Binance Coin) analysis, we’ve assessed the short, medium, and long-term outlooks: This resistance is crucial for the BNB price!
Short-Term BNB Analysis
Binance Coin is displaying a weak development within a short-term downtrend channel. This indicates increasing pessimism among investors and could foreshadow further declines for Binance Coin. BNB is approaching the support level at 210, which could result in a positive response. However, a drop below 210 would be a negative signal. In the short term, Binance Coin is technically viewed as slightly negative.
Medium-Term BNB Analysis
Binance Coin is within a medium to long-term downtrend channel. This indicates that over time, investors have been selling BNB at lower prices, which is a negative development for BNB. There is no support in the price chart, signaling further declines. In the event of a positive response, BNB faces resistance at the 226 level. In the medium term, Binance Coin is technically viewed as negative.
Long-Term BNB Analysis
Binance Coin has fallen below a long-term horizontal trend channel. This signifies an ongoing weak development, and BNB is now encountering resistance at the floor of the trend channel during potential upward rebounds. Additionally, it has given a negative signal from a head and shoulders pattern below the 341 support level. It signals a drop to 177 or lower. BNB has broken the support level at 250, indicating further declines. In the long term, Binance Coin is generally viewed as negative.
BNB Price
Today’s BNB price is $214.19 USD, with a 24-hour trading volume of $721,502,837 USD. BNB has increased by 1.30% in the last 24 hours. Its current CoinMarketCap ranking is 4th, with a live market cap of $32,952,602,484 USD. It has a circulating supply of 153,847,048 BNB coins, and there is no maximum supply.
Summary
BNB (Binance Coin) analysis evaluates the short, medium, and long-term outlooks. Short-term analysis indicates that BNB is technically viewed as slightly negative. Medium-term analysis suggests further declines for Binance Coin. Long-term analysis similarly presents a negative outlook. These analyses can assist Binance Coin investors in understanding potential future price movements.
