The BNB price trades inside a support area that has been in place for 875 days. The structure is crucial for maintaining a bullish trend.

The BNB price also trades in a short-term corrective pattern, further increasing the chances of a potential breakdown.

BNB Price Trades Near Range Bottom

The BNB price has traded in a range between $225 and $350 since May 2022. The range’s top and bottom have been touched numerous times during this time. These touches served to confirm the validity of the range.

The most recent rejection occurred in April 2023 (red icon). This led to the ongoing decrease towards the range low. BNB reached the range low in June 2023. The price bounced slightly afterward but has yet to initiate any sort of significant upward movement.

Since the support area has been in place for 875 days, a breakdown below it could trigger a sharp fall.

Go to Source to See Full Article
Author: Valdrin Tahiri

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details