Binance Coin (BNB) faces a crucial support test at $268, potentially triggering an 18% rally if it bounces back.
Failing to hold above $255 may lead to a 9.40% drop in BNB’s price, targeting $232 as the next support level.
Binance Coin (BNB) investors are closely watching as the coin nears critical support levels, setting the stage for potential volatile price action. In recent weeks, BNB has exhibited bullish and bearish tendencies, leaving traders on edge. Here’s a concise overview of the current situation and what to anticipate in the coming weeks.
BNB enthusiasts witnessed a substantial 27% rally when the cryptocurrency breached the daily resistance level at $255 on December 20, 2023. However, this impressive surge soon gave way to profit-taking, resulting in a 13% pullback to its current trading level. As the correction persists, the focus shifted to the $285 to $268 imbalance zone, formed after BNB’s 12% surge on December 26, 2023.
The Fair Value Gap (FVG) zone signifies a

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