BnB price analysis: Binance coin Price (BNB) must break and hold this brand for a strong recovery

BnB price down nearly 7% last week
BnB price drops big resistance zone to $ 329
200ma continues to act as a barrier

Binance Coin Price overview (BNB)
Binance global Exchange has been receiving support from many jurisdictions over the past few weeks, but this is yet to affect the price of the Binance currency. BNB is about 10 times higher than last year, as it has maintained its earnings well throughout this downward trend in the market overall. BnB has been steadily recovering since its low on June 22 as investors gain confidence. A big break in bitcoin would likely bring with it the price of BNB.

The BNB price has been stuck in a rising channel for about 3 weeks as traders show more hesitation about Binance Coin’s (BNB) next move. There are several deviations in both Channel Trend lines that could prove that price will react strongly at a break.

BNB recently suffered a short-term decline, with 2 declines in the big resistance zone of $ 339-329. Price must break and hold that brand to see a strong revival.

BnB price analysis: 4-hour BnB / USDT chart

At the time of writing, the BNB price was in big support territory in the $ 309-315 December. If the Bulls do not retain that brand, BNB will directly visit a lower channel trend, which is near a small support of $ 300. When the price approaches $ 300, the price of the BNB is likely to break when the entire upstream channel is created, which is a downgrade scenario. If that happens, the price will probably reach $ 291-280. The Bulls must drill and hold 200ma to save the Binance medallion from this scenario. 

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Looking at the stochastic RSI, we see that the Bears are in control as power is in the oversold zone below 20. Power must rise above 20 to save BNB from further downgrades. The normal RSI indicator indicates instability as it plays about 50 values. If RSI

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