The price of Binance Coin (BNB) has shown a significant decline, raising concerns among investors. Let's take a look at the current status of the coin and possible forecasts.
Overview of the Current BNB Status
The price of Binance Coin has fallen by 3.11% in the last 24 hours and currently stands at $814.55. This decline occurs against the backdrop of an overall trend of falling cryptocurrencies.
Analysis of Technical Levels and Forecast
On the hourly chart, BNB is approaching a local support level at $815. If this level is broken, further decline towards $800 is likely. On longer time frames, there are no reversal signals yet. The false breakout of the resistance level at $847.12 continues to apply pressure on the price.
Conclusions on BNB's Future Prospects
If the daily candle closes at current levels or below, this may lead to a test of the $780-$800 range. It is also important to pay attention to the weekly candle closure. If it occurs far from the $847.12 level, this increases the likelihood of a continued decline.
Thus, Binance Coin's price faces significant challenges. Investors should closely monitor technical levels and market trends to assess future steps.
