BNB Slides as It Approaches the $226.26 Low

BNB (BNB) Long-Term Analysis: Bearish
The BNB (BNB) price is falling as it approaches the $226.26 low. The bears are seeking to break below the 50-day simple moving average. BNB has dropped to a low of $239.10. The slide will continue until the low is above or below the moving average lines. In other words, the market will drop to $224. However, if the bulls halt the decline above the 50-day SMA, the market will resume its bullish ascent.

However, a sideways trend will restart if BNB/USD drops between the moving average lines. A few days could pass during a sideways trend.

Technical indicators:
Major Resistance Levels – $440, $460, $480
Major Support Levels – $240, $220, $200

BNB (BNB) Indicator Analysis
Given the bearish momentum, the price bars are expected to fall below the moving average lines. The crypto’s price has broken the upward-sloping moving average lines on the 4-hour chart. This points to the cryptocurrency’s continued collapse. Long candlestick tails may be seen at the bottom of the chart. The tail of these extended candlesticks signals significant buying by purchasers at lower price levels.

What Is the Next Direction for BNB (BNB)?
Binance Coin has slipped below the moving average lines on the 4-hour chart as it approaches the $226.26 low. The price indication predicts that the coin will continue to fall. BNB made an upward corrective after the December 13 drop, and a retraced candlestick body retested the 38.2% Fibonacci retracement line.

The correction predicts that the market will fall to the 2.618 Fibonacci extension, or $226.26.

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