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<ul> 
 <li>Despite the general upward trend in the market, BNB price experienced a 0.77% decrease today, indicating significant selling pressure.</li> 
 <li>For BNB to start its upward movement, it needs to achieve daily candle closures above the $255 level.</li> 
 <li>BNB’s price chart is moving within an upward trend on the 4-hour time frame, with the $241 – $238 range serving as an important support level.</li> 
</ul> 
<p><strong>Despite the general upward trend in the market, Binance Coin (BNB) experienced a 0.77% decrease today, indicating significant selling pressure. According to analyses, BNB needs to surpass a specific resistance level in order to transition into an upward trend.</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/Why-Didnt-Binance-Coin-BNB-Initiate-an-Increase-June-21.png"><img decoding="async" class=" td-modal-image alignnone wp-image-133970 size-full" src="https://en.coinotag.com/wp-content/uploads/2023/06/Why-Didnt-Binance-Coin-BNB-Initiate-an-Increase-June-21.png" alt="2-Day BNB/USD Price Chart" width="3062" height="1654"></a></p> 
<p>2-Day BNB/USD Price Chart</p> 
<p>When examining BNB’s daily price chart, despite the general upward movements in the market, a 0.77% decrease in BNB price was observed today. This indicates significant selling pressure on BNB.</p> 
<p>For BNB to start its upward movement, it needs to achieve daily candle closures above the $255 level. If BNB fails to break this level, the downward movement can extend to the $235 levels.</p> 
<p>However, if BNB achieves daily candle closures above the $255 level, it can sustain its upward movement towards the $265 level and then the $285 levels.</p> 
<p>In the past few days, Binance Coin (BNB) has faced significant selling pressure. Despite seeing more than 10% upward movements in the market, BNB’s price has not followed this trend.</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/2023/06/1687347732_739_Why-Didnt-Binance-Coin-BNB-Initiate-an-Increase-June-21.png"><img decoding="async" loading="lazy" class=" td-modal-image alignnone wp-image-133974 size-full" src="https://en.coinotag.com/wp-content/uploads/2023/06/1687347732_739_Why-Didnt-Binance-Coin-BNB-Initiate-an-Increase-June-21.png" alt="4-Hour BNB/USD Price Chart" width="3062" height="1654"></a></p> 
<p>4-Hour BNB/USD Price Chart</p> 
<p>BNB’s price chart is moving within an upward trend on the 4-hour time frame. According to the analysis, as long as BNB’s price remains above the $241 – $238 range, it can continue its upward movement towards the $260 levels.</p> 
<p>However, if BNB’s price achieves 4-hour candle closures below the $252 level, the support levels mentioned in the analysis will become the downward targets.</p> 
<p>If BNB’s price achieves 4-hour candle closures below the $238 level, the downward movement can extend to the $225 levels. Therefore, it is important for BNB to remain above the $252 level in order to continue its upward movement.</p>  
<p>The post <a rel="nofollow" href="https://en.coinotag.com/why-didnt-binance-coin-bnb-initiate-an-increase-june-21-bnb-analysis/">Why Didn’t Binance Coin (BNB) Initiate an Increase? June 21 BNB Analysis</a> appeared first on <a rel="nofollow" href="https://en.coinotag.com">COINOTAG EN</a>.</p>

Why Didn’t Binance Coin (BNB) Initiate an Increase? June 21 BNB Analysis

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