Binance Price Analysis: BNB Crypto Price May Test The Lower Support Of $300

• BNB coin price is currently seeing a strong downside momentum which can push below the $300. Meanwhile , it is trading with a loss of more than 3% in the intraday session.
• The technical indicators of the asset price suggest a strong downside momentum in price. Meanwhile, BNB/BTC pair has seen a gain of more than 1.45% in the past 24 hours.

BNB crypto price is currently seeing a strong bearish trend on the daily chart which can push it to a new low of $300. Binance coin price is currently trading near the value of $332 with a loss of more than 3%. The asset price has to travel more than 70% of its current value to reach its all time high. BNB has an ROI of more than 500% which has benefitted various investors. It is currently in a strong downside momentum. One can forecast that the price may soon see a reversal after the downtrend.

Binance coin market dominance along with the market cap has seen a significant decline in the past few days. The volume of the coin has also taken a downside in the past few days. The volume to market cap ratio of the coin hints towards a strong downside momentum in price. One can invest in Binance as per their needs and risk adversity.

Technical Indicators Of BNB Crypto Suggests A Strong Bearish Momentum In Price

The weekly technical chart of the BNB suggests a strong downside momentum in price for the future. It has seen a loss of more than 3% in the weekly time frame. Binance coin price has formed a strong bearish pattern on the daily chart. Resistance for BNB on the upside trend can be seen near $400. Meanwhile on the downside the support in the price can be observed near $300. It is currently trading below the 50 and 100 Daily Moving average, with an upcoming negative crossover. If the coin price drops down 20% below the current level then a strong downside momentum can be seen in future. BNB/BTC pair can also see a strong downside momentum in future.

Conclusion

Binance coin price is currently seeing a downside momentum but can soon revert to the uptrend. BNB/BTC pair can also hit a new low in future. One should do their due diligence before investing.

Technical Level

Major Resistance:$400
Major Support:$300

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