Binance Coin BNB Range Bound for now? $315-$346?

BNBUSDT

On April 11, BNB managed to surpass the 318 resistance level; however, the bears seem to be selling off near 338, as shown by the long wick on the candlestick. The 20-day EMA (315) is flat, and the RSI is heading down towards the center, indicating that the BNB/USDT pair might encounter a range-bound scenario in the short term.

If the price falls below the 20-day EMA, the pair may fluctuate between 338 and the 200-day SMA ($HKEX:292) for a few days. Alternatively, if the price rebounds from the 20-day EMA with strength, it may indicate a buy-on-dip opportunity. The bulls may then attempt to push the pair above the overhead zone that spans from 338 to $346.

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