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Cryptoknowmics 2022-05-27 11:53:22

BNB Technical Analysis: Below $230 Will Be A Problem

One and a half years of global consolidation in the BNB market have flown unnoticed. If you analyze the BNB on smaller timeframes, you may not notice this consolidation. The current local trend of falling has just stopped at its lower limit near $230. This mark withstood the blows of sellers in May 2021. Then high trading volumes during the weekly candle of 17 May were completely stopped in the range of $230. Analyzing the trading week on 9 May, we see that the desire to keep the mark of $230 is still there. The weekly candle closed with a big pin down and the next two trading weeks without aggression slowly lowered the price of BNB. https://www.tradingview.com/x/TlThjXC7/ BNB cryptocurrency is one of the few tokens that is doing well in the current fall of the cryptocurrency market. Therefore, considering it for investment, in the long run, is definitely a good idea. The only thing that we don’t like is the trading volumes. If you compare the trading volumes during the test mark of $230 in May 2021 and in May 2022, they are radically different. The main question is whether buyers have enough strength. Thus, by investing in BNB above the $230 range, you should be prepared to lose your investment in the event of a global consolidation breakdown. So far, this is an alternative scenario. However, given the BTC sellers’ pressure on the price, you should be prepared for a sharp BNB fall to $120. But, in the case of fixing the BNB p...

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BNB Technical Analysis: Below $230 Will Be A Problem

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