Binance Coin Price Analysis: BNB crashes by 10 % due to a second lawsuit, are $ 250 in sight?

Binance Coin Price Analysis: BNB crashes by 10 % due to a second lawsuit, are $ 250 in sight?

Yesterday's announcement that the SEC Binance has sued, brought the entire market into the red and BNB fell quickly.

Important support levels: $ 265

Important resistance level: 291 $

Volatility rose when the news became known that the SEC submitted a lawsuit against Binance. The price of BNB fell by 10 %within two hours. The rest of the market also followed this example and most of the charts showed a downward trend.

The current support for BNB is $ 265 and is likely to be tested if the mood remains pessimistic. The resistance is $ 291.

diagram of tradingview

trade volume: The volume shot up when the sellers stormed to the outcome. The BNB fell below $ 300.

rsi : The daily RSI reached the oversized area at less than 30 points. This shows an extreme degree of fear on the market.

macd : The daily MacD became Bärisch as soon as the message became known. At this point, the bears have full control over the price movement.

Diagram by Tradingview

bias

The tendency for BNB is bearish.

Short-term forecast for the BNB Prize

The market is still digesting the news and further volatility can be expected. For this reason, a test of important support at $ 265 seems likely before the buyers return. Binance has promised to fight against the SEC, so this story will probably develop for some time.

The contribution Binance Coin Price analysis: BNB crashes by 10 % due to a second lawsuit, are $ 250 in sight? first appeared on cryptopotato.

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