{"id":549721,"date":"2023-09-01T13:00:26","date_gmt":"2023-09-01T13:00:26","guid":{"rendered":"https:\/\/wncen.com\/?p=549721"},"modified":"2023-09-01T12:13:36","modified_gmt":"2023-09-01T12:13:36","slug":"bnb-price-forecast-will-it-break-through-resistance-at-225","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bnb-price-forecast-will-it-break-through-resistance-at-225\/","title":{"rendered":"BNB Price Forecast: Will It Break Through Resistance At $225?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">As Binance Coin (BNB) grapples with a turbulent market, its recent struggles have highlighted a decline in network activity, fueling a lack of buying pressure. The latest roadblock at the formidable $225 resistance level has compounded the altcoin&#8217;s long-term bearish bias, casting a shadow over its prospects in the crypto landscape.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Taking a closer look at <\/span><a href=\"https:\/\/ambcrypto.com\/bnb-rejected-at-key-price-level-is-a-move-to-200-imminent\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">BNB&#8217;s recent performance<\/span><\/a><span style=\"font-weight: 400\">, the altcoin faced a flurry of selling pressure in mid-August, a critical moment that saw the key support level of $225 transform into a major resistance. This shift firmly established bearish dominance on the higher timeframes, shaking investor confidence in BNB&#8217;s ability to rally.<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, not all hope was lost as bulls rallied from the nearby support level just above $205, providing a glimmer of optimism amidst the prevailing bearish sentiment.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/the-apecoin-quandary-why-additional-losses-could-persist\/\" target=\"_blank\" rel=\"noopener \">The ApeCoin Quandary: Why Additional Losses Could Persist<\/a><\/div>\n<h2><strong>BNB&#8217;s Price and On-Chain Metrics<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">BNB&#8217;s price, currently hovering at $213 according to <\/span><a href=\"https:\/\/www.coingecko.com\/en\/coins\/bnb\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">CoinGecko<\/span><\/a><span style=\"font-weight: 400\">, reflects the ongoing volatility. Over the past 24 hours, BNB has witnessed a 4.5% decline, while its seven-day performance shows a modest gain of 0.4%.<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-549753\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/a-3.png?resize=1024%2C50\" alt=\"\" width=\"1024\" height=\"50\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/a-3.png?w=1132 1132w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/a-3.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/a-3.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/a-3.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/a-3.png?w=750 750w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<pre style=\"text-align: center\">BNB price action today. Source: Coingecko<\/pre>\n<p><span style=\"font-weight: 400\">The Relative Strength Index (RSI), after a recent surge that took it above the neutral 50, experienced a sharp drop from the 60-mark, signaling unstable demand and wavering investor sentiment.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Examining BNB&#8217;s on-chain metrics, we find interesting developments among market speculators. <\/span><a href=\"https:\/\/coinalyze.net\/binance-coin\/open-interest\/\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">Coinalyze data<\/span><\/a><span style=\"font-weight: 400\"> reveals that the futures market reacted strongly to the short-term pump on August 29, with a sharp drop in Open Interest (OI). <\/span><span style=\"font-weight: 400\">This indicates that traders may be growing cautious as they navigate the unpredictable waters of the BNB market.<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-549749\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/a-2.png?resize=1024%2C192\" alt=\"\" width=\"1024\" height=\"192\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/a-2.png?w=1486 1486w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/a-2.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/a-2.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/a-2.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/a-2.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/a-2.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<pre style=\"text-align: center\">Source: Coinalyze<\/pre>\n<h2><strong>Prospects for the Future<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">Looking ahead, the fate of BNB appears to hinge on the weekly time frame and the closing price of its charts. If the week concludes with a strong closure above the $230 mark, buyers may seize the initiative. <\/span><\/p>\n<p><span style=\"font-weight: 400\">This potential resurgence could pave the way for a further climb towards the $240 zone, offering a glimmer of hope for BNB enthusiasts. However, a <\/span><a href=\"https:\/\/u.today\/binance-coin-bnb-price-analysis-for-august-31\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">separate report<\/span><\/a><span style=\"font-weight: 400\"> highlights that such a scenario remains relevant only until mid-September, and the market&#8217;s mood can shift rapidly.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full\" src=\"https:\/\/www.tradingview.com\/x\/ZhZIEirX\/\" width=\"1835\" height=\"893\"><\/p>\n<pre style=\"text-align: center\">BNB market cap currently at $32.9 billion. Chart: <a href=\"https:\/\/www.tradingview.com\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/hedera-falls-to-critical-support-level-can-hbar-rebound-this-september\/\" target=\"_blank\" rel=\"noopener \">Hedera Falls To Critical Support Level: Can HBAR Rebound This September?<\/a><\/div>\n<p><span style=\"font-weight: 400\">BNB faces significant challenges as it grapples with declining network activity and a persistent lack of buying pressure. The recent rejection at the $225 resistance level has cemented a bearish bias on the higher timeframes, leaving investors to closely monitor BNB&#8217;s price movements and on-chain metrics for signs of a potential turnaround. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Amidst this uncertainty, market participants must remain vigilant and adaptable, as the cryptocurrency landscape is known for its rapid fluctuations and ever-changing dynamics.<\/span><\/p>\n<p><em>(This site&#8217;s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n<p><em><span style=\"font-weight: 400\">Featured image from Telegaon<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As Binance Coin (BNB) grapples with a turbulent market, its recent struggles have highlighted a decline in network activity, fueling a lack of buying pressure. The latest roadblock at the formidable $225 resistance level has compounded the altcoin&#8217;s long-term bearish bias, casting a shadow over its prospects in the crypto landscape. Taking a closer look at BNB&#8217;s recent performance, the altcoin faced a flurry of selling pressure in mid-August, a critical moment that saw the key support level of $225 transform into a major resistance. This shift firmly established bearish dominance on the higher timeframes, shaking investor confidence in BNB&#8217;s ability to rally. However, not all hope was lost as bulls rallied from the nearby support level just above $205, providing a glimmer of optimism amidst the prevailing bearish sentiment. Related Reading: The ApeCoin Quandary: Why Additional Losses Could Persist BNB&#8217;s Price and On-Chain Metrics BNB&#8217;s price, currently hovering at $213 according to CoinGecko, reflects the ongoing volatility. Over the past 24 hours, BNB has witnessed a 4.5% decline, while its seven-day performance shows a modest gain of 0.4%. BNB price action today. Source: Coingecko The Relative Strength Index (RSI), after a recent surge that took it above the neutral 50, experienced a sharp drop from the 60-mark, signaling unstable demand and wavering investor sentiment. Examining BNB&#8217;s on-chain metrics, we find interesting developments among market speculators. Coinalyze data reveals that the futures market reacted strongly to the short-term pump on August 29, with a sharp drop in Open Interest (OI). This indicates that traders may be growing cautious as they navigate the unpredictable waters of the BNB market. Source: Coinalyze Prospects for the Future Looking ahead, the fate of BNB appears to hinge on the weekly time frame and the closing price of its charts. If the week concludes with a strong closure above the $230 mark, buyers may seize the initiative. This potential resurgence could pave the way for a further climb towards the $240 zone, offering a glimmer of hope for BNB enthusiasts. However, a separate report highlights that such a scenario remains relevant only until mid-September, and the market&#8217;s mood can shift rapidly. BNB market cap currently at $32.9 billion. Chart: TradingView.com Related Reading: Hedera Falls To Critical Support Level: Can HBAR Rebound This September? BNB faces significant challenges as it grapples with declining network activity and a persistent lack of buying pressure. The recent rejection at the $225 resistance level has cemented a bearish bias on the higher timeframes, leaving investors to closely monitor BNB&#8217;s price movements and on-chain metrics for signs of a potential turnaround. Amidst this uncertainty, market participants must remain vigilant and adaptable, as the cryptocurrency landscape is known for its rapid fluctuations and ever-changing dynamics. (This site&#8217;s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Telegaon<\/p>\n","protected":false},"author":557,"featured_media":549730,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,13291,86483,1144,8686,4735],"class_list":["post-549721","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-binance-coin","tag-bnb-price","tag-btcusd","tag-ethusd","tag-price-action"],"acf":[],"yoast_head":"\n<title>BNB Price Forecast: Will it Break Through Resistance at $200?<\/title>\n<meta name=\"description\" content=\"As Binance Coin (BNB) grapples with a turbulent market, its recent struggles have highlighted a decline in network activity, fueling a lack of buying\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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Encila\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/42cdb81dcbfceaa5f2e5c359239db36f?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/42cdb81dcbfceaa5f2e5c359239db36f?s=96&d=mm&r=g\",\"caption\":\"Christian Encila\"},\"description\":\"They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"BNB Price Forecast: Will It Break Through Resistance At $225?","url":"http:\/\/wncen.com\/news\/bnb-price-forecast-will-it-break-through-resistance-at-225\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bnb-price-forecast-will-it-break-through-resistance-at-225\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/a.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/a.jpg?fit=900%2C506"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoins","binance coin","bnb price","btcusd","ethusd","price action"],"dateCreated":"2023-09-01T13:00:26Z","datePublished":"2023-09-01T13:00:26Z","dateModified":"2023-09-01T13:00:26Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"BNB Price Forecast: Will It Break Through Resistance At $225?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bnb-price-forecast-will-it-break-through-resistance-at-225\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bnb-price-forecast-will-it-break-through-resistance-at-225\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/a.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/a.jpg?fit=900%2C506\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoins\",\"binance coin\",\"bnb price\",\"btcusd\",\"ethusd\",\"price action\"],\"dateCreated\":\"2023-09-01T13:00:26Z\",\"datePublished\":\"2023-09-01T13:00:26Z\",\"dateModified\":\"2023-09-01T13:00:26Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/a.jpg?fit=900%2C506","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/549721"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=549721"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/549721\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/549730"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=549721"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=549721"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=549721"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}