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BNB worth (Binance coin) continues to be struggling to clear the $220 resistance in opposition to the US Dollar. The worth might decline closely under the $210 and $202 help ranges.

• Binance coin worth is slowly transferring decrease from the $220 resistance in opposition to the US Dollar.
• The worth is now buying and selling under $215 and the 100 easy transferring common (4 hours).
• There was a break under a key bullish development line with help close to $214.5 on the 4-hour chart of the BNB/USD pair (information supply from Binance).
• The pair may speed up decrease if it breaks the $210 help stage.

Binance Coin Price Remains At Risk

This previous week, BNB worth tried a restoration wave above the $210 stage. The worth was capable of clear the $215 resistance zone. However, it didn’t clear the $220 resistance.

There was a contemporary decline in BNB, like Bitcoin and Ethereum. The worth declined under the $215 help stage. The bears pushed the worth under the 50% Fib retracement stage of the upward transfer from the $207 swing low to the $221 excessive.

Besides, there was a break under a key bullish development line with help close to $214.5 on the 4-hour chart of the BNB/USD pair. The worth is now buying and selling under $215 and the 100 easy transferring common (4 hours).

It is consolidating close to the 76.4% Fib retracement stage of the upward transfer from the $207 swing low to the $221 excessive. If there’s a restoration wave, the worth might face resistance close to the $213 stage and the 100 easy transferring common (4 hours).

Source: BNBUSD on TradingView.com

The subsequent resistance sits close to the $215 stage. A transparent transfer above the $215 zone might ship the worth additional increased. In the said case, BNB worth might take a look at the primary resistance at $220-$222. An in depth above the $222 resistance may set the tempo for a bigger enhance towards the $250 resistance.

More Losses in BNB?

If BNB fails to clear the $215 resistance, it might begin one other decline. Initial help on the draw back is close to the $210 stage. The subsequent main help is close to the $207 stage.

If there’s a draw back break under the $207 help, the worth might drop towards the $202 help. Any extra losses might provoke a bigger decline towards the $165 stage.

Technical Indicators

4-Hours MACD – The MACD for BNB/USD is gaining tempo within the bearish zone.

4-Hours RSI (Relative Strength Index) – The RSI for BNB/USD is at the moment under the 50 stage.

Major Support Levels – $210, $207, and $202.

Major Resistance Levels – $215, $220, and $222.