Coin

<p>Binance Coin (BNB), the native token of the Binance cryptocurrency exchange, has been mired in a prolonged downtrend but may be gearing up for a significant price swing in the near future, according to technical analysis by <a href="https://twitter.com/thescalpingpro/status/1706339479127314612?t=Rpm_mvcaCGvVZd3CibAC5w&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">Mags</a>.</p> 
<p>BNB hit an all-time high of $665 in May 2021 but has declined steadily since then, currently trading around $209. This area has emerged as a crucial support level for BNB, with the price bouncing off it multiple times on sharp sell-offs. So far, there are no strong signs of bullish reversal or bearish breakdown at this key inflection point.</p> 
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<p>From a technical perspective, BNB recently broke down from a massive rising wedge pattern that had been consolidating for over 385 days. Breakdowns from long-term chart patterns typically lead to a continuation of the prevailing trend, which has been bearish for BNB since mid-2021.</p> 
<p>If BNB decisively loses the $209 support, technical analysts expect a larger drop toward the $165-$150 zone. However, another scenario is a brief breakdown below $209 followed by a quick reclaim and rally to the middle of BNB’s current trading range. The risk-reward favors bulls comparatively in this second outcome.</p> 
<p>Whichever way the price heads, some type of high-impact move seems imminent for BNB in the near future. Traders should keep a close eye on the cryptocurrency as a potential short-term trading opportunity may be setting up. Fundamental catalysts like major news events could help trigger the anticipated volatile price action.</p> 
<p>The BNB (Binance Coin) has experienced varied price performance over different time frames. In the last 24 hours, BNB has seen a 1.5% increase in its price, valued at $211.68, with a 24-hour trading volume of $341,427,880. The coin has been trading in the 24-hour range of $207.81 to $211.62. Over the past seven days, BNB has experienced a -2.2% decline in its price. </p> 
<p>However, it has managed a slight increase of 1.4% over the past 14 days. When considering a longer time frame of 30 days, BNB has again faced a decline in its price by -2.2%. The coin currently holds a market cap of $32,533,279,408, ranking 4th in the cryptocurrency market.</p> 
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<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/binance-coin-bnb-about-to-ignite-analysts-bet-on-big-move-at-this-exact-level/">Binance Coin (BNB) About to Ignite, Analysts Bet on Big Move at This Exact Level</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Binance Coin (BNB) About to Ignite, Analysts Bet on Big Move at This Exact Level

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