Will BNB Price Breakout To Cross $260?

BNB displays a downtrend with bearish breakdowns of consolidation.
Binance faces resistance from a longstanding trendline.
A breakout from the trendline or range is expected to lead to a recovery rally in BNB.
BNB price dropped below the $300 mark and currently oscillates between $200-$230.
Multiple bearish forces led to a price drop to $215, which is a 38% fall in five months.
After a 6% drop in late August, there's a maintained sideways trend.
Buying pressure is evident slightly above the $200 mark.
Technical indicators like MACD and RSI support the demand at $200 and hint at bullish divergence.
If buyers break above the resistance trendline, the BNB price could surge past $230 and head to $260.
A close below $200 would be a bearish indication, potentially dropping the price to $185.


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.