Coin

<img width="1200" height="681" src="https://coingape.com/wp-content/uploads/2023/11/pMWQ9xTA-e1700917562716.png" class="attachment-full size-full wp-post-image" alt="BNB Price" decoding="async" style="float:right; margin:0 0 10px 10px;">
Binance Coin Price Prediction: The Binance Coin (BNB) has experienced significant volatility this week, largely attributed to the <a href="https://coingape.com/binance-ex-ceo-changpeng-cz-zhao-fight-for-uae-return-post-guilty-plea/">legal challenge involving Binance’s former CEO</a>, Changpeng “CZ” Zhao. On November 21st, the BNB price saw a sharp decline, with an intraday loss of 10.95%, bringing the price down to the $225 level. Despite this, an emerging bullish pattern in the technical chart indicates a potential rebound, with buyers aiming to prevent a drop below the $200 mark. 
Also Read: <a href="https://coingape.com/eba-propose-stricter-anti-money-laundering-rules-binance-doj-settlement/">EBA Proposes Stricter Anti-Money Laundering Rules Amid Binance’s DOJ Settlement</a> 
<h2 id="strong-binance-coin-price-prediction-will-buyers-lose-200-mark-strong">Binance Coin Price Prediction: Will Buyers Lose $200 Mark?</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">A symmetrical triangle pattern prevents the BNB price from major downfall</li> 
 <li style="font-weight: 400;" aria-level="1">A bullish breakout from the $257 barrier would set the price for a 22% upswing</li> 
 <li style="font-weight: 400;" aria-level="1">The intraday trading volume in the BNB coin is $645.5 Million, indicating a 9.5% gain</li> 
</ul> 
<img decoding="async" class="alignnone" src="https://s3.tradingview.com/snapshots/p/pMWQ9xTA.png" alt="Binance Coin Price Prediction" width="1946" height="1104">Source- Tradingview 
Over the last five months, the Binance coin has been <a href="https://coingape.com/markets/binance-coin-price-prediction-as-bnb-nurtures-25-bullish-move/">oscillating predominantly within a range</a>, fluctuating between the $250 and $200 levels. While the recent dip in BNB’s price raised concerns among investors, a closer examination of the technical chart suggests that this movement is part of a larger bullish reversal pattern known as an inverted head and shoulders. 
<blockquote>
 The declining BNB price has recently found reliable support around $225, forming the base of the right shoulder of this pattern. A subsequent bullish reversal from this support level has led to a 4.45% increase in the coin’s price, currently trading at about $233.
</blockquote> 
This chart pattern indicates that the coin price could potentially rise by another 10%, aiming for a neckline target of $257. A successful bullish reversal from this neckline would set the stage for a further increase, potentially elevating the price by an additional 21% to reach the $300 psychological threshold.&nbsp; 
Moreover, this anticipated rally might see the BNB breaking through the upper boundary of a long-standing symmetrical triangle pattern, further reinforcing the bullish sentiment. 
<h2 id="strong-is-bnb-price-ready-for-recovery-strong">Is BNB Price Ready for Recovery?</h2> 
For nearly two years, the <a href="https://coingape.com/price/bnb/">Binance coin price</a> has been resonating within the formation of a symmetrical triangle pattern, leading the long-term sideways trend. Under the influence of this pattern, a potential rally in BNB price would face intense supply pressure around $280. Until this pattern is intact, the BNB price will continue to walk in a lateral mode 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Exponential moving average. The flattish movement in the crucial daily <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/">EMAs</a>( 20, 50, 100, and 200) highlights an uncertain sentiment in the market.</li> 
 <li style="font-weight: 400;" aria-level="1">Moving average convergence divergence: A bearish crossover between <a href="https://coingape.com/glossary/macd-moving-average-convergence-divergnece/">MACD</a> and signal line accentuates a negative short-term trend.</li> 
</ul> 
The post <a rel="nofollow" href="https://coingape.com/markets/binance-coin-price-prediction-will-225-support-bnb-revival/">Binance Coin Price Prediction: Will $225 Key Support Spark $BNB Revival?</a> appeared first on <a rel="nofollow" href="https://coingape.com">CoinGape</a>.

Binance Coin Price Prediction: Will $225 Key Support Spark $BNB Revival?

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