Binance Coin (BNB) Sees a Notable Price Drop Over a Month
- BNB coin lacks momentum; taps on a bearish trend
- Binance Coin has recorded more than 35% of loss; trades well below the key support levels
- The coin has been consolidating since the last few days; support levels near $14 has been tested
After tracing an uptrend in the last five days of November, the coin has started trading on a bit sluggish note this month. The BNB price was above $20 till mid-November, and currently, the coin is struggling to trade above $15, where it seems range bound. Notably, the bearish trendline had been breached when Binance Coin rebounded mildly on November 25.
Binance Coin Price Prediction
A month ago, BNB coin was firmly trading above $20, and after a low swing near $19, the coin escalated above $21.70 to face rejection above it. With a strong price fall, the coin declined by 35.43% and bottomed at $14.06. A mild rebound has taken place there; however, the coin is yet to surge above $17. At 05:52:35 UTC today, the BNB coin is trading at $15.18.
Except for the MACD chart, all the technical indicators are indicating a bearish phase. Also, the coin doesn’t manifest much of volatility at present. The short-term SMA line is on the downside while RSI is at 43, noting no extremities. Notably, the BNB coin is carrying selling pressure for quite a long time now.
Binance Coin calls for a strong price boost at the moment. According to the BNB coin price prediction, the coin may see support levels at $14.99, $14.79, and $14.43 if it continues the downtrend; resistance levels for BNB stand at $15.55, $15.91, and $16.11.
