{"id":104593,"date":"2023-06-05T19:40:01","date_gmt":"2023-06-05T19:40:01","guid":{"rendered":"https:\/\/dripp.zone\/news\/index.php\/2023\/06\/05\/will-bnb-price-lose-250-support-amid-recent-sell-off-crypto-news\/"},"modified":"2023-06-05T19:40:03","modified_gmt":"2023-06-05T19:40:03","slug":"will-bnb-price-lose-250-support-amid-recent-sell-off-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/will-bnb-price-lose-250-support-amid-recent-sell-off-crypto-news\/","title":{"rendered":"Will $BNB Price Lose $250 Support Amid Recent Sell-off?\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"post-150758\">\n<p><!--\n     \n\n<div class=\"marketThumbs\">\n             <noscript><img loading=\"lazy\" width=\"1200\" height=\"681\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/06\/06005842\/UNgWjATq-e1685993340398.png\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Binance price analysis\" decoding=\"async\" srcset=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/06\/06005842\/UNgWjATq-e1685993340398.png 1200w, https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/06\/06005842\/UNgWjATq-e1685993340398-300x170.png 300w, https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/06\/06005842\/UNgWjATq-e1685993340398-768x436.png 768w, https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/06\/06005842\/UNgWjATq-e1685993340398-150x85.png 150w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/noscript><\/div>\n\n\n--><\/p>\n<p class=\"MarketsUp f-14 d-block\">Published 9 minutes ago  <\/p>\n<div class=\"Atcs\">\n<p><span style=\"font-weight: 400;\">Binance Coin Price Analysis: On Monday 5th June, the BNB price witnessed a significant outflow, registering an intraday loss of 10%. This sudden downfall has more likely arisen with the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/breaking-us-sec-sues-crypto-giant-binance-and-ceo-cz\/?utm_source=24hrsupdateall\">lawsuit against Binance<\/a>, the world&#8217;s largest cryptocurrency exchange, and its CEO, Changpeng \u201cCZ\u201d Zhao.  By the press, the daily chart shows no buying pressure from the bottom indicating the Binance coin is poised for further downfall.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.59 --><\/p>\n<p>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/binance-official-response-sec-lawsuit\/?utm_source=24hrsupdateall\">Binance Officially Responds to SEC Lawsuit, Claims to \u201cVigorously\u201d Defend Allegations<\/a><\/p>\n<h2><strong>Binance Price Daily Chart<\/strong><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A symmetrical triangle pattern has been caring for the ongoing sideways trend in the BNB price. <\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A breakdown below the pattern&#8217;s support trendline will trigger a massive correction.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The intraday trading volume in the BNB coin is $389.5 Million, indicating an 11.2% loss.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Binance Coin Price Analysis\" width=\"1946\" height=\"1104\" data-lazy-src=\"https:\/\/s3.tradingview.com\/snapshots\/u\/UNgWjATq.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/s3.tradingview.com\/snapshots\/u\/UNgWjATq.png\" alt=\"Binance Coin Price Analysis\" width=\"1946\" height=\"1104\"\/><\/noscript>Source- Tradingview<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Amid the recent downfall, the BNB price plunged to the $276.6 mark, accounting for 21% in the last two months.  However, taking a look at a longer time frame chart, the coin price showed the formation of a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/symmetrical-triangle-pattern\/\">symmetrical triangle pattern<\/a>,<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">This pattern in the weekly chart indicates the ongoing correction still lies under its premise and the overall sideways trend is not hampered.  Under the influence of this pattern and the current negative sentiment, the Binance coin price may tumble 8% and hit the $252-$250 support.<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">Furthermore, the aforementioned support aligned with the lower trendline of the triangle pattern which prevented the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/bnb\/\">bnb price<\/a> from an excess downtrend.  Until this pattern is intact, the coin holders can maintain a bullish sentiment and expect a recovery soon.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.59 --><\/p>\n<h2><strong>Will Binance Coin Price Reach $250 Support?<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Under the development of a symmetrical triangle pattern, the BNB price walked a sideways trend for over a year.  Amid the current correction, the coin price will likely retest the lower support trendline of the pattern which previously triggered a massive recovery cycle.  Therefore, the Binance coin price is more likely to rebound from the $250 support useless we have some more negative views on this crypto exchange.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Relative Strength Index: <\/b><span style=\"font-weight: 400;\">The weekly <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/rsi-relative-strength-index\/\">rsi slope<\/a> dives deeper into the bearish territory indicating the supply pressure is strong, and therefore, the sellers could accelerate a downfall to $250.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Exponential Moving Average:<\/b><span style=\"font-weight: 400;\">  The coin price is still above the 200-weekly <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/exponential-moving-average-how-to-leverage-it-in-crypto-market\/\">EMA<\/a> project and the overall trend is bullish.<\/span><\/li>\n<\/ul><\/div>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA150758\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>From the past 5 years I am working in Journalism.  I follow the Blockchain &#038; Cryptocurrency from last 3 years.  I have written on a variety of different topics including fashion, beauty, entertainment, and finance.  Reach out to me at brian(at)coingape.com                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD150758\">\n<p>    The content presented may include the personal opinion of the author and is subject to market condition.  Do your market research before investing in cryptocurrencies.  The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p>     <!--           <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/category\/price-analysis\/\" class=\"closeArticle2 close-btn\">Close Story<\/a>--><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Published 9 minutes ago Binance Coin Price Analysis: On Monday 5th June, the BNB price witnessed a significant outflow, registering an intraday loss of 10%. This sudden downfall has more likely arisen with the lawsuit against Binance, the world&#8217;s largest cryptocurrency exchange, and its CEO, Changpeng \u201cCZ\u201d Zhao. By the press, the daily chart shows [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":104594,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-104593","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/104593","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=104593"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/104593\/revisions"}],"predecessor-version":[{"id":104595,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/104593\/revisions\/104595"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/104594"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=104593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=104593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=104593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}