Binance Coin (BNB) Declines to $305 Low as It Faces Rejection from the $347 High
Binance Coin (BNB) Long-Term Analysis: Bearish
On August 1, Binance Coin rallied to a high of $347 before the recent retracement. The recent downtrend will reach a low of $305. The bears are approaching the low of $330 support. When the current support is breached, the coin will decline to the previous at $305. The low at $305 may attract buyers on the downsides. In the previous price action, BNB/USD was fluctuating between $300 and $330 price levels. The bulls broke the previous price range to reach $347 but the crypto has fallen back to the $300 and $330 price range. A break above the $330 resistance will catapult the altcoin to the highs of either $340 or $400. However, if price turns down from the current level, the bears will have the advantage of pushing the altcoin to the…
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