Binance Coin maintained its bullish bias.
The lack of strong selling volume during the dip suggested that buyers remained the favorites.
Binance Coin [BNB] is expected to continue its stellar run of the past few weeks. From a technical analysis perspective, the token was trading within an area where the buyers would be interested due to the risk-to-reward aspect.
A drop below $301 could change these expectations. The evidence from the indicators and the price action showed that a move upward is more likely. Should traders look to enter long positions on BNB?
The former weekly resistance zone is expected to push prices upward
Source: BNB/USDT on TradingView
The 12-hour price chart of BNB showed a bullish structure was present. An aggressive reading of market structure would infer that a fall below $307 would initiate a move downward. This could reach the $276-$266 support zone.
The $301.4-$315.4 zone marked in red is a support zone on the one-week chart. It had served as resistance ba
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