Binance Coin (BNB) tumbled towards the $400 support on Thursday as the broader market lost its bullish momentum. The fourth-largest cryptocurrency dropped to the $401.45 mark yesterday night before rebounding to the $410 resistance. However, BNB appeared to lack the bullish composure to sustain a push to the $420 mark, where the 4-hour 100 EMA resides.
That said, a fall to the $400 round figure over the coming hours is likely and necessary to complete the newly-formed trading cycle. A retrace to the $400 level should trigger a rebound towards $436 over the coming day.
Meanwhile, my resistance levels are $420, $436, and $450, and my support levels are $400, $380, and $365.
Total Market Capitalization: $1.85 trillion
Binance Coin Market Capitalization: $66.5 billion
Binance Coin Dominance: 3.58%
Market Rank: #4
That said, a fall to the $400 round figure over the coming hours is likely and necessary to complete the newly-formed trading cycle. A retrace to the $400 level should trigger a rebound towards $436 over the coming day.
Meanwhile, my resistance levels are $420, $436, and $450, and my support levels are $400, $380, and $365.
Total Market Capitalization: $1.85 trillion
Binance Coin Market Capitalization: $66.5 billion
Binance Coin Dominance: 3.58%
Market Rank: #4
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