Binance Coin holds $220 support

BNBUSDT

Once again, BNB found support at the robust level of $220 on June 12, highlighting the bulls' aggressive defense of this level. The recovery that followed is expected to encounter strong resistance at the 38.2% Fibonacci retracement level of $252, as well as the breakdown level of $265.

A reversal from either of these levels would indicate that bears view relief rallies as opportunities to sell, potentially leading to another decline towards $220. Conversely, if the bulls manage to push and sustain the price above the $265 breakdown level, it could trap aggressive bears and set the stage for a breakthrough. There is minor resistance at the 20-day EMA ($272), but it is likely to be overcome if bullish momentum persists.