Binance Coin (BNB) tumbled towards the $400 support on Thursday as the broader market lost its bullish momentum. The fourth-largest cryptocurrency dropped to the $401.45 mark yesterday night before rebounding to the $410 resistance. However, BNB appeared to lack the bullish composure to sustain a push to the $420 mark, where the 4-hour 100 EMA resides.
That said, a fall to the $400 round figure over the coming hours is likely and necessary to complete the newly-formed trading cycle. A retrace to the $400 level should trigger a rebound towards $436 over the coming day.
Meanwhile, my resistance levels are $420, $436, and $450, and my support levels are $400, $380, and $365.
Total Market Capitalization: $1.85 trillion
Binance Coin Market Capitalization: $66.5 billion
Binance Coin Dominance: 3.58%
Market Rank: #4
That said, a fall to the $400 round figure over the coming hours is likely and necessary to complete the newly-formed trading cycle. A retrace to the $400 level should trigger a rebound towards $436 over the coming day.
Meanwhile, my resistance levels are $420, $436, and $450, and my support levels are $400, $380, and $365.
Total Market Capitalization: $1.85 trillion
Binance Coin Market Capitalization: $66.5 billion
Binance Coin Dominance: 3.58%
Market Rank: #4
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.