Price Analysis

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.

Binance Coin
BNB Price Chart By TradingView

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. 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.

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David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.
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