General negative market sentiment is continuing to impact the price of BNB coin. During the previous week, the coin was making modest moves between levels of $242 down to $204. Support line at $200 has not been clearly tested on this occasion. As of the end of the week buying orders started to emerge, which stopped the price of moving further to the downside.
RSI is moving sort of sideways during the last two weeks, between levels of 44 and 37. It is a clear reflection of the spot market, where investors are still not certain which side to take. On a positive side is that the moving average of 50 days is slowing down its divergence from its MA200 counterpart. Still, path reversal is not indicated on the charts, in which sense, potential cross might take some time in the future.
Technical analysis is implying that there is probability for a support line at $200 to be tested in the coming days. At this moment, there is no clear indication that this line might be breached to the downside. In case of a short term reversal, the price of BNB might revert back to the level of $240, eventually $250 resistance line.
RSI is moving sort of sideways during the last two weeks, between levels of 44 and 37. It is a clear reflection of the spot market, where investors are still not certain which side to take. On a positive side is that the moving average of 50 days is slowing down its divergence from its MA200 counterpart. Still, path reversal is not indicated on the charts, in which sense, potential cross might take some time in the future.
Technical analysis is implying that there is probability for a support line at $200 to be tested in the coming days. At this moment, there is no clear indication that this line might be breached to the downside. In case of a short term reversal, the price of BNB might revert back to the level of $240, eventually $250 resistance line.
