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The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/binance-coin-price-analysis-a-hidden-trendline-pushes-down-bnb-price-will-buyers-at-200-turn-tides/">Binance Coin Price Analysis: A Hidden Trendline Pushes Down BNB Price; Will Buyers At $200 Turn Tides?&nbsp;</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
Breaking the symmetrical triangle in early June to drop from $300 to $231, the BNB price action entered a consolidation range between $230-260. However, the recent FUD tsunami in the crypto market crashes Binance further. 
Facing multiple rejections from the 50-day EMA and a resistance trendline, the BNB coin price continues to break the $230 support level. With the psychological mark of $200, bringing in more buyers is evident by the potential morning star forming in the 1Day chart.&nbsp; 
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 <img decoding="async" src="https://lh4.googleusercontent.com/E41KRbaMPIBWioLzpZGKn5HWmtA8ys-jyAUyT6oQjrg9wMbGVpVVRI0phZd_JV551Bfp4ANoKYoa3VMsf-1LThpfgol6inl4ECL8qrnndqQMwTrSG9tpkCDamwXjhjsLLuVo0HcG4YSu4UTxf4usPIk" alt=""> 
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Under the influence of the strong resistance trendline, Binance is down by 38% in the last 4 months. However, the BNB price manages a 2.28% intraday jump teasing a morning star pattern.&nbsp; 
Forming a key reversal pattern like morning star at crucial psychological support of $200 displays high chances of a sharp reversal. However, the BNB price must overcome the selling pressure at the resistance trendline to enter a credible recovery phase.&nbsp; 
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 <img decoding="async" src="https://lh3.googleusercontent.com/Fink4Nwh7M04En82az178nV0m_GEJuxnrKuRibDc9A9fG-hBVbICxMG9qOfwUg01PD-_XWW0eQSjIkcwK-6szXFESKlmJu1DhE9zBImsUzTg13rrXtiLZoIdOTL0gu-yo04DTZYyQ90xR3urdB4xqZo" alt=""> 
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Coming to the technical indicators, the stochastic RSI and daily RSI line are preparing a bounce back from the oversold zone. However, the declining bearish 50-day EMA moves along the resistance trendline to amplify the hawkish sentiments.&nbsp; 
If buyers can hold off the sellers, $200 will be a great place to buy BNB. If things go really well, BNB could even reach $230 before running into more resistance. 
Conversely, a downfall that closes below the $200 mark will result in an intense correction phase for Binance Coin. In such a case, the fallout rally could extend to $185.

Binance Coin Price Analysis: A Hidden Trendline Pushes Down BNB Price; Will Buyers At $200 Turn Tides?

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