BNB Under Pressure; Tamadoge Price Trades Positively

The Binance Coin price prediction shows that BNB is facing $300 support as the coin heads toward the lower boundary of the channel.

Binance Coin Prediction Statistics Data:

• Binance Coin price now – $303
• Binance Coin market cap – $48.8 billion
• Binance Coin circulating supply – 161.3 million
• Binance Coin total supply – 161.3 million
• Binance Coin Coinmarketcap ranking – #5

BNB/USD Market

Key Levels:

Resistance levels: $370, $380, $390

Support levels: $255, $245, $235

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BNB/USD is sliding below the 9-day and 21-day moving averages as the heads to the negative side. During the European session today, the Binance Coin touches the resistance level of $310 with the generally bullish market, but at the time of writing, the coin is retreating below the opening price of $306.9.

Would BNB Follow the Downtrend while Tamadoge Heads to the Upside?

Binance Coin (BNB) is trading at $303.5 hovering below the 9-day and 21-day moving averages in the daily chart. At the time of writing, the drop is likely to be heavy as the technical indicator Relative Strength Index (14) moves to cross below the 50-level. The nearest support at $300 is likely to hold despite the strong arm of the bears, while sideways trading could also take precedence based on the technical indicator.

However, for the coin to cross into the positive side, BNB/USD must reclaim the $310 level and focus on taking down higher hurdles at the resistance levels of $370, $380, and $390. Nevertheless, if the bullish failed to push the coin to the upside and $300 support comes to focus, expect more support at $260 below crossing the lower boundary of the channel, and any further support levels could be located at $255, $245, and $235.

Against Bitcoin, the Binance Coin is hovering below the 9-day and 21-day moving averages. If the coin creates more negative movements, 1160 SAT and below may come to play as the Relative Strength Index (14) moves to cross below the 50-level.

Meanwhile, after touching the daily high of 1319 SAT, BNB/BTC slide below the 9-day and 21-day moving averages. However, if the support level of 1200 SAT can act as a solid line of defense against any further downtrend; the resistance level of 1500 SAT and above may come into focus.

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Related:
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