Binance Coin supported by 50 day moving average

BNBUSDT

BNB broke above the 338 overhead resistance on April 26 but could not sustain the higher levels, as seen from the long wick on the day's candlestick. The selling picked up momentum on April 28 and the bears are trying to sink the price below the 50-day SMA.

If they succeed, the BNB/USDT pair could dive to $300 and thereafter to $280. A rebound off the current level, on the other hand, will indicate that bulls are buying on dips, and a break above the $350 hurdle could signal the start of a new uptrend toward $400.

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