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Binance Coin (BNB) Price Analysis for February 22

Wed, 02/22/2023 - 16:06
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Denys Serhiichuk
Can decline of Binance Coin (BNB) continue below $300 zone?
Binance Coin (BNB) Price Analysis for February 22
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Bears have continued their pressure as most of the coins are in the red zone.

Top coins by CoinMarketCap


The rate of Binance Coin (BNB) could not withstand bears' pressure, going down by 1.86% over the last 24 hours.

BNB/USD chart by TradingView

After the false breakout of the resistance, the price of Binance Coin (BNB) might have found the local bottom at the support level of $305.1. As the native exchange coin has passed most of its daily ATR, sideways trading in the narrow range of $306-$308 is the more likely scenario.

BNB/USD chart by TradingView

On the daily chart, one should pay attention to the interim support level at $308. If the candle closes below it, there are high chances of seeing a further drop to the $300 zone. Such a scenario is relevant until the end of the month.

BNB/BTC chart by TradingView

The situation is a little bit more positive on the daily time frame against Bitcoin (BTC). The price keeps trading sideways, between the support at 0.01260 and the resistance at 0.012975.

BTC and ETH Price Analysis for February 21

In addition, the volume has fallen, which means that one should not expect any sharp moves in the near term.

BNB is trading at $307.3 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