BNB (Binance Coin) Price Prediction
Above is BNB price chart. As you can see, after hitting the all-time high, the price seems to be in a bear market. BNB formed a series of lower highs while the horizontal support at $222 has rejected any downward pressure.
By drawing a trendline around the swing highs and another at the underlying support, a descending triangle seems to form. As BNB price moves closer to the triangle’s apex, the odds for a bullish impulse increase. Once the downward trend is broken, we can expect a fast 25% upswing.
Multiple resistances are at $269, $284, and $300 respectively. On the other hand, keeping the support at $222 is crucial for a bullish move. If the support at $222 is broken, we can expect a drop to around $140.