Binance Coin (BNB) has been experiencing a difficult time in the cryptocurrency market, with bears taking over and causing the price to drop despite a strong push from bulls. The coin is now seeking support around the $300 mark as the market remains volatile. While some analysts are optimistic about the coin's long-term potential, others are cautious and suggest that current market conditions could lead to further downside.

Binance Coin's price has been fluctuating between $320 and $340 since its surge in mid-April, but the recent breach of the lower trendline support indicates a bearish trend in the market. To regain bullish momentum, Binance Coin needs to see a significant surge in trading volume and positive news surrounding Binance exchange.