BNB Price Could See Major Drawdown If It Fails To Stay Above This Support

Jan 24, 2024 06:00 am Cryptocurrency 262

BNB price started a fresh decline from $320 resistance zone. The price is now retesting the $290 support and is at risk of more downsides.

BNB price is gaining bearish momentum from the $320 resistance.

The price is now trading below $310 and the 100 simple moving average (4 hours).

There was a break below a key bullish trend line with support at $315 on the 4-hour chart of the BNB/USD pair (data source from Binance).

The pair might continue to move down if it fails to stay above the $290 support.

BNB Price Takes Hit

In the past few days, BNB price made more than three attempts to clear the $320 resistance zone. However, the bears remained active and protected more gains.

As a result, there was a bearish reaction below the $315 level, like Bitcoin and Ethereum. There ..

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