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Binance Coin (BNB) Price Analysis for December 17

Sat, 12/17/2022 - 21:30
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Denys Serhiichuk
Has Binance Coin (BNB) found local bottom yet?
Binance Coin (BNB) Price Analysis for December 17
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Even though most of the coins faced a significant drop yesterday, buyers have not managed to seize the initiative.

Top 10 coins by CoinMarketCap


The rate of Binance Coin (BNB) has dropped by 12.45% over the last 24 hours.

BNB/USD chart byTradingView

Despite the fall, the rate of Binance Coin (BNB) might have found a local support level at $224.7. At the moment, the price is located near the resistance at $239.5.

ADA and BNB Price Analysis for December 16

If buyers can hold the gained initiative until the end of the day, there is a chance to see a test of $250 tomorrow.

BNB/USD chart byTradingView

A similar situation is on the bigger chart. Even though it is too early to think about a midterm reversal, a slight rise to the mirror level at $255.6 can happen. Thus, the buying volume has increased, which confirms bulls' power.

BNB/BTC chart by TradingView

On the chart against Bitcoin (BTC), Binance Coin (BNB) is trying to remain in the bullish zone after the false breakout of the 0.013882 mark. If the candle closes near 0.0145, it might be easy for bulls to keep the rise to the important zone of 0.015. Such a scenario is relevant until the end of the upcoming week.

BNB is trading at $238.6 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at