Binance Coin Price Analysis: On June 10th, the Binance coin price gave a decisive breakout from the support trendline of a triangle pattern that carried a sideways trend for nearly a year. This breakdown must have released the trapped bearish momentum and set the BNB price for a prolonged downfall. In theory, each swing low formed during the triangle formation can act as a significant target for traders.
Also Read: Binance’s BNB Chain To Announce Layer 2 Blockchain Solution
Binance Price Daily Chart:
$200 stands as a high-demand zone for BNB buyers
A bearish crossover between the 100-and-200-day EMA could attack more sell orders in the market.
The intraday trading volume in the BNB coin is $389.5 million, indicating an 11.2% loss.
(Source: Tradingview)
Earlier this week, the BNB price witnessed a minor pullback in its ongoing downtrend and retested the breached trendline for potential resistance. A long-wick rejection candle formed at the flipped resistance indicates a shift in m
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