- BNB coin price has observed a huge fall within hours due to the overall fall in the market. It is currently down by more than 16% in the last 24 hours.
- Binance coin price may revert back but it would take a while for them . Meanwhile, BNB/BTC pair is also down by more than 5% in the intraday session
BNB coin price has seen a sudden fall in price in the last 24 hours, making it to touch a low of $370. Binance coin price has observed a loss of more than 17% in the past 24 hours and is trading near $416. BNB coin price has an ROI of more than 297599.42% which has always helped retail and institutional investors. The coin price has formed a long bearish candle which can push the price further below. BNB/BTC pair has also been affected by the downside momentum and is trading with a loss of more than 5% . One can invest in Binance according to their needs and their risk adversity
BNB has fallen down from a high of $500 to a low of $370 within a few hours. The volume of the Binance has also seen a dramatic rise in this period. The volume to market capitalization ratio for the asset price hints towards a upside momentum for the future
BNB Coin Price May Recover Soon To $500 Mark
The weekly chart of the BNB highlights a strong upside momentum in price for a new high. Binance token price is currently down by more than 14% in the weekly time frame . The bullish momentum of BNB can face the resistance on the upper side near $500. Meanwhile, the support of the asset price can be seen bouncing back from $350. The price of the coin is currently trading above 50 and 100 Daily Moving Average. The coin price is currently taking the support of 100MA on the daily chart. The 100MA line is at $402, which can act as a temporary bounceback region. BNB has formed a strong bearish candle on the daily chart. If the asset price goes below the $350 then a strong downtrend can be seen. BNB/BTC pairs can also see a reversal in price in the future
Conclusion
BNB coin price has seen a strong fall down in the past trading session but can soon revert to the uptrend. BNB/BTC pair can also see a recovery in future
Technical Levels
Major Support:$350
Major Resistance:$500