Binance coin failed to pauze the $17.50 resistance and declined against the US Dollar. BNB/USD is presently holding a major support area near $13.50.
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- Binance Coin price failed to pauze the $17.50 resistance area and declined sharply against the US Dollar.
- There is a fresh connecting bearish trend line ter place with resistance at $14.50 on the 2-hours chart of BNB/USD (Gegevens feed via Binance, price calculated by Trading view).
- The pair voorwaarde stay above the $13.50 and $13.30 support levels to avoid more losses.
Binance Coin Price Forecast
Ter the last analysis, wij discussed an significant resistance near $17.50 te Binance coin price against the US Dollar. The BNB/USD pair attempted an upside pauze above $17.50, but buyers failed to build up momentum.
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Looking at the chart, the price wasgoed clearly rejected from the $17.50 barrier. Spil a result, there wasgoed a acute bearish reaction and the price tumbled below the $16.00 and $15.00 resistance levels.
It traded close to the $13.50 support zone and lodged below the 100 elementary moving media (2-hours). A fresh low wasgoed formed at $13.28 before buyers appeared. BNB price commenced an upward correction and moved above the 23.6% Fib retracement level of the last decline from the $17.45 high to $13.28 low.
However, there are many hurdles for buyers near the $15.00 level. More importantly, there is a fresh connecting bearish trend line ter place with resistance at $14.50 on the 2-hours chart of BNB/USD.
The pair also faced sellers near the 38.2% Fib retracement level of the last decline from the $17.45 high to $13.28 low at $14.85. Therefore, it seems like the price needs to clear the $14.50 and $15.00 resistance levels to recover further ter the near term.
On the downside, the $13.50 and $13.30 support levels hold a loterijlot importance. Should binance coin price fails to hold the $13.50 support, there could be more declines towards the $12.00 level ter the near term.
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The market gegevens is provided by TradingView.