Will BNB Price Breakout To Cross $260?
BNB displays a downtrend with bearish breakdowns of consolidation.
Binance faces resistance from a longstanding trendline.
A breakout from the trendline or range is expected to lead to a recovery rally in BNB.
BNB price dropped below the $300 mark and currently oscillates between $200-$230.
Multiple bearish forces led to a price drop to $215, which is a 38% fall in five months.
After a 6% drop in late August, there's a maintained sideways trend.
Buying pressure is evident slightly above the $200 mark.
Technical indicators like MACD and RSI support the demand at $200 and hint at bullish divergence.
If buyers break above the resistance trendline, the BNB price could surge past $230 and head to $260.
A close below $200 would be a bearish indication, potentially dropping the price to $185.
Binance faces resistance from a longstanding trendline.
A breakout from the trendline or range is expected to lead to a recovery rally in BNB.
BNB price dropped below the $300 mark and currently oscillates between $200-$230.
Multiple bearish forces led to a price drop to $215, which is a 38% fall in five months.
After a 6% drop in late August, there's a maintained sideways trend.
Buying pressure is evident slightly above the $200 mark.
Technical indicators like MACD and RSI support the demand at $200 and hint at bullish divergence.
If buyers break above the resistance trendline, the BNB price could surge past $230 and head to $260.
A close below $200 would be a bearish indication, potentially dropping the price to $185.
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