The crypto market has been experiencing fluctuations with recent developments. on the other hand BNB coin Its price continues to show a neutral trend. This highlights the decline in investors’ interest in it.
BNB coin price It briefly traded in a closed range between $238 and $255. Then the market gained momentum and the price broke out of the range.
However, the rally was short-lived as the price was rejected at $272. It then traded sideways for about a week. After many attempts, the bulls regained strength and made a 25% jump in valuation.
Koinfinans.com As we reported altcoin The price was later rejected at $340. Then, the price lost momentum and traded in a closed range between $310 and $329 for a while.
After many attempts, the market lost momentum and the price recorded a correction of approximately 6%.
Since then, the price has been trading in a closed range between $290 and $310. This indicates weak trading pressure for the coin in the market.
Will BNB Coin Price Gain Value Again?
While the averages continue to trend sideways, the Relative Strength Index (RSI) shows a neutral trend. This highlights an uncertainty in the future price movement of the coin.
If the bulls push BNB price above the $310.6 resistance level, the price will regain momentum. Therefore, it will soon test the upper resistance level of $329.4. Holding the price at this level will pave the way for the altcoin price to attempt to test the $340 resistance level.
Conversely, if the market fails to gain strength, the price will lose momentum and drop to test the $298 support level. Moreover, if bears continue to dominate the market, it will be poised to test the lower support level of $290 in the coming period.