- Binance coin price action tumbles 60% from the time of the crash and is at $297 on an intraday trading session
- The 24-hour volume in BNB is 15% down at $6,174,044,720
- The BNB/BTC pair was trading at 0.008131 BTC with a loss of 15.70%
The 4-hour technical chart of the Binance coin price movement is in a downtrend and is below the support of $230. According to pivot levels, the BNB significant support level is $230. Whereas if it goes up, the primary resistance level to watch is $430. Moreover, the chart shows a bearish inside candle describing bearish reversal with low reliability.
Stochastic RSI indicator (BEARISH) – with a value of K-39, D-42 gives a sell call. Investors may observe a negative crossover in the index. Due to selling pressure, It may move towards an oversold zone in the upcoming trading sessions.
The Moving Average Exponential (EMA), consisting of 200-EMA, acts as unbroken support in the asset price movement. Investors may witness the price reaching way below the red line, so until the price rests below the EMA, it will assure BNB negative trend.
The volume of (1.27M) is beneath the Volume MA (1.52M) of 20-days. Moderate volume is directed in BNB to drop the price further.
Binance Coin (BNB) Price Dumps, Chief Is Holding His Tokens
Binance founder Changpeng Zhao posted a tweet of his hand’s X-Ray scan today. By looking at the scan closely, tiny shining particles like diamonds are visible, which means Diamond Hands, an internet slang used for someone who holds stocks adamantly and does not intend to sell them.
Binance coin price traded at $297 with a 20% loss in the last 24-hour and a 46.40% loss in the weekly time frame. In contrast, the market capitalization stands at $47 billion. Technically, investors can perceive the price is below the 200-EMA. The stochastic RSI index features a negative trend. In the coin, Holders are directing moderate volume. Additionally, the price move can be towards the support of $230 in future trading sessions.
Resistance: $430
Support: $230