Binance Coin BNB/USDT Price Analysis April 10, 2023

BNBUSDT

For the past few days, BNB has been trading below the 20-day EMA (313), but the bears have not managed to push the price below the immediate support level of $306. This indicates a decrease in selling pressure at lower levels.

With the lower levels holding, the bulls may try to push the price above the overhead resistance level of $318. In this scenario, the BNB/USDT pair could gain momentum and rise to 338 and potentially $346.

Alternatively, if the price turns downwards, it would suggest that the bears are selling on every minor relief rally. If the support level at 306 is breached, the pair may slide down to the 200-day SMA ($HKEX:292).

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