A few days, the price of Binance Coin (BNB) ended up experiencing an alarming dip in its price. The price of Binance Coin reportedly went all the way down to $320 per BNB figure, which is quite low for the third-largest cryptocurrency.
As of now, the $320 per BNB price is the strong support zone for Binance Coin. As the price of BNB started plummeting, there was a lot of panics observed among the BNB investors. However, the bulls came in to carry the situation and sustain the pressure being exerted by the bears.
The bulls jumped into the situation and started buying the dip for Binance Coin. This resulted in launching a trend that proved to be extremely beneficial for the investors. As a result, the investors were able to push and bring BNB back into the game against the bears.
As the price of BNB went down, the bulls exerted strong force in order to push Binance Coin back into the game. They applied a lot of force and managed a rebound, which saw Binance Coin grow over the $350 per BNB mark.
The positive prediction for Binance Coin suggests that the investors are aiming to propel the price of Binance Coin to a high figure. The first attempt of the bulls would be to push Binance Coin beyond the moving average prices.
It has been predicted that once Binance Coin grows over the moving average values, the bulls may gain a lot of strength. At that point, the bulls may be able to give a really tough time to the bears if they make an attempt to sink BNB’s price.
However, if the bears are able to push back against the bulls, they may do it with a lot of force. At the time of writing, the price of Binance Coin is $366.81, which is a good sign for the bulls. However, if the bears intervene and start exerting high selling pressure, they may succeed in pushing BNB down to $350.19 again.
Once Binance Coin falls below the $350 mark, the bears may attempt to bring it below the support benchmarks. The next attempt the investors may make would be to push Binance Coin below $326.38 per BNB. From there, the bears may go for another selling spree, aimed to bring the price of Binance Coin below the third support zone ($304.19).
Then comes the positive prediction of Binance Coin, which sides with the bullish sentiments. According to the bullish sentiments, the bulls may succeed in increasing their buying force, which may drive BNB’s price over $399.04.
This would help the bulls push Binance Coin over the $423.78 per Binance Price, which would be over the 50-day SMA for BNB. As the bulls keep pushing, Binance Coin’s price may hit and cross the $450.69 per BNB figure.