- Binance Coin has recovered almost 40% after reaching a minimum of $ 218.8 per year in the last 48 hours.
- Trading volumes were down 50% compared to the night before, indicating that selling pressure was perceived.
- Bitcoin pair Binance Coin is trading at 0.009972 satoshis, up 0.44% slightly.
On May 9, Binance (BNB) prices circumvented the four-month integration phase by dropping to a support level of $ 355. With continued sales momentum, altcoin fell 21.8% to $ 261. Therefore, BNB was a hit when BTC fell below $ 30,000 and reached a new low of $ 218 in 2022 on May 12.
Conceptual Round Level-Because $ 200 is close to the lows of the last week, bulls are well-managed for BNB costs above that, and the $ 22 mark is now their key support level. Meanwhile, $ 335 seems to be a short-term bullish hurdle.
Once in the lows of the year, the daily priced candlesticks reflect the dragonfly Doji candles, so BNB is fully looking at a higher approach. Meanwhile, at the time of writing, BNB tokens are trading at $ 293, down 3.7% in the last 24 hours, according to CMC. In addition, the Bitcoin pair Binance Coin is trading at 0.009972 satoshis, up 0.44% slightly.
BNB investors are moving towards a round-level $ 300 that could act as a short-term resistance.However, trading volume fell by 50% last night, reflecting the detection of selling pressure.
Traders pay attention to the $ 300 mark
On the daily price scale, BinanceCoin is trading below the 20-day index moving average. It can also be a high barrier during bounceback.
Similarly, the daily RSI index is recovering after falling into the oversold zone.
Conclusion
If the bulls push up prices above $ 300 in a daytime trading session, it indicates that the downside may be over.Subsequent recovery could reach $ 413 if the bull manages to move to the ground
Support Level – $ 220 and $ 200
Resistance levels – $ 300 and $ 350
Disclaimer
The views and opinions expressed by the author or the people nominated in this article are for informational purposes only and do not establish financial, investment, or other advice. Investing or trading crypto assets carries the risk of financial loss.
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