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BNB Price Prediction: Binance Coin bounces off support

 


The BNB price briefly crashed to around USD 257 and bounced off the support. What's next for the BNB course?


BNB Price Prediction: Is Binance Coin Bouncing Now?

In the latest BNB Price Prediction , we wrote: “Binance Coin price failed to break the bearish trend line, leaving the golden ratio untouched at around USD 305. Instead, the BNB price has fallen very sharply in the last few days, which means that BNB is now at the golden ratio support of around USD 270.


The BNB price could now bounce off this to rise to the next Fib resistance at around USD 282.


Otherwise, significant support is only waiting for the Binance Coin between USD 256 and USD 263. In addition, the histogram of the MACDs in the daily chart is ticking bearishly lower and the MACD lines are also crossed bearishly. The RSI is neutral.


Against BTC , the RSI is showing a massive bearish divergence on the weekly chart. Also, the MACD histogram is ticking bearish lower and the MACD lines are about to see a bearish crossover.


With that, BNB could now correct to around 0.01236 BTC to bounce off the 0.382 Fib level.”


The Binance Coin price bounced off the support between USD 256 and USD 263

The Binance Coin price briefly fell to around USD 257 and bounced off the support between USD 256 and USD 263. The BNB price broke the golden ratio support at around USD 270 for a short time, but the Binance Coin price is now back at this support.


In addition, the histogram of the MACDs in the daily chart has been ticking bullishly higher for a few days and the MACD lines are also about to cross in a bullish manner. The RSI is neutral.


If the BNB price sustains above the golden ratio around USD 270, BNB will find the next significant resistance at the 50-day EMA around USD 278.6. In addition, significant Fibonacci resistance awaits at around USD 282.5.


Should Binance Coin break this resistance, the next significant Fib resistance awaits around USD 306. Also, at this price level, the 200-day EMA is acting as a significant resistance.

On the 4H chart, the Death Cross remains intact, confirming the trend bearish in the short-term. In addition, the histogram of the MACDs is ticking bearishly lower and the MACD lines are crossed bearishly. Should Binance Coin bearishly break the golden ratio support around USD 270, BNB will again find significant support between USD 256 and USD 263.

In the medium term, things are still looking bearish for BNB anyway, as the bearish trend line of the last twelve months could not be broken. In addition, the histogram of the MACDs is also ticking bearishly lower and the MACD lines could soon cross bearishly.


The BNB course finds significant support at around USD 240 at the latest

The BNB course finds significant Fibonacci support at around USD 240 at the latest. If BNB breaks this support, Binance Coin could return to yearly lows between around USD 183 and USD 219.


However, the MACD histogram has been ticking bullishly higher for the last month. The monthly chart gives us a first indication of a bullish trend reversal.


The BNB price could now fall sharply against BTC

Against BTC, the RSI showed a massive bearish divergence in the weekly chart, after which the BNB price has already fallen sharply. Additionally, the MACD histogram is ticking bearish lower and the MACD lines are on the verge of a bearish crossover.


Should BNB bearishly break out of the parallel upward channel, BNB will find significant support at around 0.01236 BTC at the latest at the 0.382 Fib level.


DISCLAIMER

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action taken by the reader based on the information found on our website is entirely at their own risk.

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