According to Denys Serhiichuk
At the current time, how far down can Binance Coin (BNB) plunge?
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Since the new regulations were announced, South Korean exchanges have grabbed market leadership.
BNB/USD
Binance Coin (BNB) was dragged down by the sell-off, losing 2.59% of its value.
On the local chart, the price has made a false breakout of the support level at $305.2. But since bulls are still stronger than bears—and have not returned to resistance levels recently — one can expect a fall below $300 soon if buyers cannot quickly retake control of this market.
The rate has broken through the resistance at $316, indicating that bulls may need additional time to build up energy for further upward movement.
The bottom will likely remain in the $300-$310 range until next week.
Compared to Bitcoin (BTC), the daily chart shows that the price remains stuck in a wide channel. If buyers want to regain control of this situation, they must return it to 0.0136.
At press time, BNB was trading at $309.
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