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BNB Price Takes Hit But 100 SMA Could Trigger Fresh Increase

The Binance Coin (BNB) faced rejection near $350 against the US Dollar, leading to a major decline below $335 and $320 levels. The price is currently trading near the key $320 support zone, with immediate resistance at $328. A clear move above the $328 resistance might spark bullish moves, while the main resistance is forming near the $340 zone. On the downside, initial support is near the $320 level, followed by the $317 level, and an extended decline toward the $300 support if there's a downside break below $317. The MACD for BNB/USD is losing pace in the bearish zone, and the RSI for BNB/USD is currently below the 50 level. (newsbtc)

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