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<li>Binance Coin (BNB) has broken the downward trend line and has risen to levels of $240.</li>
<li>BNB is currently trying to hold onto the trend support at the $231 level, and if it closes above $231, it has the potential to rise towards the $257 level.</li>
<li>However, for BNB to surpass the $257 level, it first needs to close above $242. Otherwise, a downward movement and an expansion towards the $224 level may be observed.</li>
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<p><strong>Binance Coin (BNB) price has recently broken the downward trend line and started to rise. Currently, BNB is trying to hold onto the support zone at $231 and if it maintains stability on the 30-minute chart, it can move towards the $257 level.</strong></p>
<h2 id="strong-medium-term-bnb-price-analysis-strong"><strong>Medium-Term BNB Price Analysis</strong></h2>
<p><a href="https://en.coinotag.com/wp-content/uploads/2023/06/Can-Binance-Coin-BNB-Start-Its-Rise-June-16-BNB.png"><img decoding="async" class=" td-modal-image alignnone wp-image-133633 size-full" src="https://en.coinotag.com/wp-content/uploads/2023/06/Can-Binance-Coin-BNB-Start-Its-Rise-June-16-BNB.png" alt="2-Day BNB/USD Price Chart" width="2045" height="857" /></a><br />
2-Day BNB/USD Price Chart</p>
<p>When the technical chart of Binance Coin (BNB) is examined, it can be seen that the price is moving above the important support zone of $222 &#8211; $206.</p>
<p>If BNB continues to close above the $222 &#8211; $206 support range on a daily basis, it can continue its rise towards the mentioned $265 levels as stated in the analysis.</p>
<p>If the BNB price closes above $265 on a daily basis, the next target will be $315.</p>
<p>However, Binance Coin (BNB) price must surpass the $265 level to initiate the upward trend.</p>
<p>If the BNB price fails to break the $265 level, it has the potential to continue the downward trend. If it closes below the mentioned $206 support on a daily basis, it can extend the downward movement to $183.</p>
<h2 id="strong-short-term-bnb-price-analysis-strong"><strong>Short-Term BNB Price Analysis</strong></h2>
<p><a href="https://en.coinotag.com/wp-content/uploads/2023/06/1686922980_528_Can-Binance-Coin-BNB-Start-Its-Rise-June-16-BNB.png"><img decoding="async" loading="lazy" class=" td-modal-image alignnone wp-image-133634 size-full" src="https://en.coinotag.com/wp-content/uploads/2023/06/1686922980_528_Can-Binance-Coin-BNB-Start-Its-Rise-June-16-BNB.png" alt="30-Minute BNB/USD Price Chart" width="2045" height="857" /></a></p>
<p>30-Minute BNB/USD Price Chart</p>
<p>When the price chart of Binance Coin (BNB) is examined, it can be seen that the price has broken the downward trend line and has risen to $240 levels.</p>
<p>BNB price is currently trying to hold onto the trend support at the $231 levels. If it stays above the $231 support on the 30-minute timeframe, it can continue its upward movement towards the mentioned $257 levels as stated in the analysis.</p>
<p>However, for the BNB price to reach the $257 levels, it first needs to achieve candlestick closures above the $242 level.</p>
<p>If the BNB price achieves candlestick closures below the $231 level, it can extend the downward movement to $224.</p>

<p>The post <a rel="nofollow" href="https://en.coinotag.com/can-binance-coin-bnb-start-its-rise-june-16-bnb-analysis/">Can Binance Coin (BNB) Start Its Rise? June 16 BNB Analysis</a> appeared first on <a rel="nofollow" href="https://en.coinotag.com">COINOTAG</a>.</p>

Can Binance Coin (BNB) Start Its Rise? June 16 BNB Analysis

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