BNB price (Binance coin) is moving lower below $290 against the US Dollar. It could continue to move down if there is a drop below $270.
- Binance coin price is showing bearish signs below the $300 level against the US Dollar.
- The price is now trading below $285 and the 100 simple moving average (4-hours).
- There is a key bearish trend line forming with resistance near $288 on the 4-hours chart of the BNB/USD pair (data source from Binance).
- The pair could resume its decline if there is no clear move above $288.
Binance Coin Price Declines Over 5%
In the past few days, BNB price saw a steady decline from the $325 resistance zone. The price dropped below the $310 and $300 levels. The decline gained pace below the $285 support.Today, it is down over 5% but less compared to bitcoin and ethereum. There was a spike below the $275 level and a low is formed near $271. The price is now consolidating losses below the $285 zone and the 100 simple moving average (4-hours).
On the upside, an immediate resistance is near the $276 level. It is near the 23.6% Fib retracement level of the recent decline from the $293 swing high to $271 low. The next major resistance is near the $282 level. It is near the 50% Fib retracement level of the recent decline from the $293 swing high to $271 low. The main resistance is forming near the $285 zone. There is also a key bearish trend line forming with resistance near $288 on the 4-hours chart of the BNB/USD pair.