BNB Price Rebounds Toward $250 But Risk of Drop To $200 Still Exists

Dec 20, 2022 08:00 am Cryptocurrency 122
BNB Price Rebounds Toward $250 But Risk of Drop To $200 Still Exists

BNB price (Binance coin) found support near $220 against the US Dollar. BNB is rising, but the bears could take a strong stand near the $265 zone.


  • Binance coin price started a recovery wave from the $220 support against the US Dollar.

  • The price is now trading below $265 and the 100 simple moving average (4-hours).

  • There is a crucial bearish trend line forming with resistance near $265 on the 4-hours chart of the BNB/USD pair (data source from Binance).

  • The pair could start a fresh decline unless there is a clear move above the $265 resistance.

    • Binance Coin Price Faces Resistance


    This past week, BNB price saw a major decline below the $250 support zone. It gained bearish momentum against bitcoin, ethereum and other peers. The price tumbled below the $235 support against the US dollar and tested the $220 support.


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