Binance Coin Price Analysis — July 11
Binance Coin (BNB) resumed its retreat from the $243 area on Monday, bottoming at the $230 support. The fifth-largest cryptocurrency has hovered above this line for most of today, indicating a potential rebound in the coming days.
From a broader view, BNB trades within a large bearish flag as illustrated on my 4-hour chart, supporting the possibility of a near-term rebound towards $250 in the coming days. Eventually, we could see a dip to the $215 after BNB runs out of momentum within the channel.
Meanwhile, my resistance levels are $230, $260, and $280, and my support levels are $200, $180, and $160.
Total Market Capitalization: $911.4 billion
Binance Coin Market Capitalization: $35.4 billion
Binance Coin Dominance: 3.88%
Market Rank: #5
From a broader view, BNB trades within a large bearish flag as illustrated on my 4-hour chart, supporting the possibility of a near-term rebound towards $250 in the coming days. Eventually, we could see a dip to the $215 after BNB runs out of momentum within the channel.
Meanwhile, my resistance levels are $230, $260, and $280, and my support levels are $200, $180, and $160.
Total Market Capitalization: $911.4 billion
Binance Coin Market Capitalization: $35.4 billion
Binance Coin Dominance: 3.88%
Market Rank: #5
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