Coin

The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/bnb-price-analysis-with-a-downtrend-with-ranges-will-bnb-price-breakout-to-cross-260/">BNB Price Analysis: With A Downtrend With Ranges, Will BNB Price Breakout To Cross $260?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
Breaking under the $300 psychological mark, the BNB coin price struggles to find a solid footing to hold the falling prices. Leading to multiple support levels and a consolidation range breakout, the Binance coin price is under solid pressure from the resistance trendline.&nbsp; 
Currently, the BNB price trend enters a sideways alley between $200 and $230 with the resistance trendline in action. Will buyers manage to push the Binance price higher within the range for a breakout? 
<figure class="wp-block-image size-large"> 
 <img decoding="async" width="1024" height="487" src="https://image.coinpedia.org/wp-content/uploads/2023/09/07124336/BNBUSD_2023-09-07_12-00-23-1024x487.png" alt="" class="wp-image-227911" srcset="https://image.coinpedia.org/wp-content/uploads/2023/09/07124336/BNBUSD_2023-09-07_12-00-23-1024x487.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/09/07124336/BNBUSD_2023-09-07_12-00-23-300x143.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/09/07124336/BNBUSD_2023-09-07_12-00-23-768x365.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/09/07124336/BNBUSD_2023-09-07_12-00-23-1536x730.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/09/07124336/BNBUSD_2023-09-07_12-00-23-150x71.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/09/07124336/BNBUSD_2023-09-07_12-00-23.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
With multiple bearish forces in play, BNB price action drops to $215, a 38% drop within five months. Creating lower high formations with the resistance trendline in play, the recent rejection warns of a downtrend continuation below $200. 
On a positive note, the Binance coin price maintains a sideways trend following the 6% drop in late August. With a display of buying pressure at the demand belt slightly above $200, the chances of a bullish reversal shine brighter. 
Coming to the technical indicators, the MACD lines and the daily RSI line support the demand at $200 and signal a bullish divergence in the last two dips.&nbsp; 
Considering the buyers manage to break above the resistance trendline leading to the range breakout, BNB price is set to skyrocket. Surpassing the $230 zone, the breakout rally will propel the Binance coin price higher to $260. 
On the other hand, if Binance Coin closes below $200, it will be a bearish crash. We could see a correction phase that takes us all the way down to $185.

BNB Price Analysis: With A Downtrend With Ranges, Will BNB Price Breakout To Cross $260?

CoinPedia News

Other articles published on Sep 7, 2023

XRP Community Gathering: Ripple CTO Drops Hints at Two Major Events!

Bitcoin Bull Run Predicted by Co-founder Arthur Hayes

THORChain Price Prediction: Will RUNE Price Break $2 in Sep?

Astar Network’s EVM Staking Release Sparks Price Rally, but There’s a Catch

Will the SEC’s ‘Lamentable’ Approach Be Replaced By Congress’s Strong Hand? Experts Discuss

Grayscale Bitcoin Trust Wallets Revealed

Join our free newsletter for daily crypto updates!