{"id":23967,"date":"2023-06-12T04:48:33","date_gmt":"2023-06-12T04:48:33","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/06\/12\/is-the-downtrend-just-getting-started\/"},"modified":"2023-06-12T04:48:33","modified_gmt":"2023-06-12T04:48:33","slug":"is-the-downtrend-just-getting-started","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/06\/12\/is-the-downtrend-just-getting-started\/","title":{"rendered":"Is the Downtrend Just Getting Started?"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>BNB worth (Binance coin) is down over 25% and buying and selling beneath $250 towards the US Dollar. The worth might drop additional towards the $200 help.<\/em><\/p>\n<ul>\n<li>Binance coin worth is shifting decrease beneath the $250 help towards the US Dollar.<\/li>\n<li>The worth is now buying and selling beneath $250 and the 100-day easy shifting common.<\/li>\n<li>There is a key bearish pattern line forming with resistance close to $280 on the day by day chart of the BNB\/USD pair (knowledge supply from Binance).<\/li>\n<li>The pair might speed up additional decrease if it breaks the $220 help zone.<\/li>\n<\/ul>\n<h2>BNB Price Continues To Bleed<\/h2>\n<p>In the previous few days, BNB worth noticed a serious decline from properly above $280 towards the US Dollar. The current SEC lawsuit towards Binance is just not serving to BNB. It can also be placing bearish strain on <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-at-significant-risk-25400\/?swcfpc=1\" target=\"_blank\" rel=\"noopener\">Bitcoin<\/a> and <a href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-price-downtrend-1800\/?swcfpc=1\" target=\"_blank\" rel=\"noopener\">Ethereum<\/a>.<\/p>\n<p>The final main excessive was fashioned close to $352 earlier than the worth declined closely. There was a transparent transfer beneath the $280 and $250 ranges. The decline was such that the worth examined the key $220 help zone. BNB worth is now buying and selling beneath $250 and the 100-day easy shifting common.<\/p>\n<p>A low is fashioned close to $221.2 and the worth is now consolidating losses. On the upside, BNB is dealing with resistance close to the $240 stage. The first main resistance is close to $250. It is near the 23.6% Fib retracement stage of the downward transfer from the $352 swing excessive to the $221 low.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-537431\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Binance-Coin-BNB-1.png\" alt=\"BNB Price Prediction\" width=\"1834\" height=\"845\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Binance-Coin-BNB-1.png 1834w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Binance-Coin-BNB-1-460x212.png 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Binance-Coin-BNB-1-860x396.png 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Binance-Coin-BNB-1-768x354.png 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Binance-Coin-BNB-1-1536x708.png 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Binance-Coin-BNB-1-750x346.png 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Binance-Coin-BNB-1-1140x525.png 1140w\" sizes=\"auto, (max-width: 1834px) 100vw, 1834px\"\/><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BNBUSD\/\" target=\"_blank\" rel=\"nofollow noopener\">BNBUSD on TradingView.com<\/a><\/p>\n<p>The subsequent main resistance is close to $270. The predominant resistance is now close to $280 or the pattern line or the 50% Fib retracement stage of the downward transfer from the $352 swing excessive to the $221 low. A transparent transfer above the $280 resistance may begin a gradual improve. The subsequent main resistance is close to the $300 stage, above which the worth may rise towards the $325 resistance.<\/p>\n<h2>More Losses?<\/h2>\n<p>If BNB fails to clear the $250 resistance, it might proceed to maneuver down. Initial help on the draw back is close to the $220 stage.<\/p>\n<p>The subsequent main help is close to the $200 stage. If there&#8217;s a draw back break beneath the $200 help, there might be an prolonged decline towards the $180 help. Any extra losses might ship the worth towards the $164 help.<\/p>\n<p>Technical Indicators<\/p>\n<p>Daily MACD \u2013 The MACD for BNB\/USD is gaining tempo in the bearish zone.<\/p>\n<p>Daily RSI (Relative Strength Index) \u2013 The RSI for BNB\/USD is at present beneath the 50 stage.<\/p>\n<p>Major Support Levels \u2013 $220, $200, and $180.<\/p>\n<p>Major Resistance Levels \u2013 $240, $250, and $280.<\/p>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/bnb\/bnb-price-prediction-200\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] BNB worth (Binance coin) is down over 25% and buying and selling beneath $250 towards the US Dollar. The worth might drop additional towards the $200 help. Binance coin worth is shifting decrease beneath the $250 help towards the US Dollar. The worth is now buying and selling beneath $250 and the 100-day easy 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