Can BNB remain above $300 despite sellers' pressure? Dave_Jonez_02 BNB Pain_Alive_BNB Binance_DEX BinanceResearch
On the local chart, the price has made a false breakout of the support level at $305.2. Until the rate is above it, bulls remain more powerful than bears. However, if buyers cannot come back to the resistance shortly, one can expect a fall below $300 soon.
On the bigger time frame, the rate has made a false breakout of the resistance at $316, which means that bulls might need more time to accumulate energy for a further move.In this case, sideways trading in the range of $300-$310 is the more likely scenario until the end of the week. Analyzing the daily chart against Bitcoin , the situation is almost unchanged as the price is stuck in the middle of a wide channel. If buyers want to seize the initiative, they need to return the rate to the 0.0136 zone.
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