Binance Coin Bulls Are Determined Even After Recent Downfalls, Want To Push BNB Over $300

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At the time of writing, the trading price of Binance Coin (BNB) is around $250, which is a key support level for the asset.

Given the recent market developments, it is clearly difficult for the bulls to fight against the bears. Still, they are trying their best to keep up with their selling pressure.

They are trying to match their selling pressure with their strong buying sentiments. So far, the bulls have kept the bears from bringing the BNB price lower than $250.

However, it is not known what is going to happen with the asset in the upcoming days.

Aggressive Defenses at $250

Even though the general market sentiments are bearish, the bulls are not ready to give up on these sentiments. They are determined to push the trading price of BNB and are giving a tough time defending the level.

The trading price of BNB has continued hovering around the particular level. This goes to show that the bulls have not lost their buying sentiments.

They are aggressively defending the $250 level, giving a tough time to the bears. They want to keep defending this level until they are able to build up enough buying momentum to push BNB’s price.

Bulls to Push BNB Over the $255 Level

It is quite surprising to see that while the strong support level for BNB is at $250, the overhead resistance level lies at $255.

This is the reason why the competition is too tough among both sides between the particular ranges. They are not willing to let the bears take the lead and for this purpose, they may increase their buying pressure.

The bulls are expected to propel the trading price of BNB over the $250 level and then push it over the $255 level.

However, it is going to be a tough situation for the bulls. They not only have to fight the bears but have to fight the entire market trend that is also bearish.

Even if they manage to bring BNB closer to $255, there is a high chance they have to increase the buying momentum on their own. They will not be supported by other investors until they are able to cross $255.

BNB to Surge to $300 and Cross the Level

If the bulls do manage to push BNB past the $255 level, then other investors may join the trend. Especially, it would be the neutral investors that may start investing in BNB.

This may become a strong rally that may start pushing BNB’s price higher. If the trend keeps gaining stronger momentum, then the bulls will have the opportunity of pushing BNB past the $275 mark.

If more support keeps coming in favor of the bulls, then they will be able to push BNB all the way up to a high of $300.

This will be a difficult task for the bulls to overcome but if they keep the momentum built up, the price of BNB may succeed in hitting the particular level.

As the rallies keep growing stronger, the trading price of BNB may manage to cross the $300 level and move higher.

Downward Movement of BNB

As mentioned earlier, the general market sentiments are currently bearish. It suggests that BNB may not see much response as its price is pushed higher.

On the other hand, if the price of BNB ends up falling below $250, then it will be a completely different story for the asset.

BNB is already troubled due to the general market sentiments followed by the Binance exchange’s recent proof of reserve dilemma.

If the bulls are not able to defend the key support level, then BNB will lose its power and falter to a low of $236.

As the selling spree gains more power, then the trading price of BNB may end up falling to a low of $200.


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