Price Analysis View Non-AMP

BNB Price Analysis: With Altcoins Crashing, BNB Falls To $230- Is A Reversal At Horizon?

Published by
Sohrab Khawas

With altcoins marking a third bearish day this week, the BNB coin price faces extensive selling from its investors. Breaking below a bullish pattern, Binance coin price succumbs to bearish market conditions, leading to a 5.78% drop in the last 8 days. 

Failing to rise above the 50-day EMA and $250, the BNB coin price falls drastically, leading to a rising channel fallout. With buyers struggling to avoid a third consecutive bearish candle, the daily candle shows lower price rejection. 

Binance coin price shows a 3.62% drop in the last two days, with a rise in trading volume highlighting solid selling pressure. With an intraday loss of 0.33% and a long tail formation, buyers struggle to avoid the third red candle. 

The rising channel fallout rally currently rests at the crucial support zone of $230. By providing multiple reversal spots before, the possibility of a reversal from this support zone is relatively high. Moreover, as the sellers get exhausted, it may lead to a retest. 

The increased bearish sentiments in the BNB chart are evident in the technical indicators. With MACD indicators showing intense bearish histograms after the negative crossover. Moreover, the RSI line falls to the oversold boundary. 

Considering the buyers can absorb the supply pressure, $230 provides an excellent bounce pad and an entry spot. In a bullish case, the BNB price can reach the $250 mark to rechallenge the overhead supply. 

On the flip side, a downfall closing below the support zone will mark an intense correction phase for the Binance coin. The fallout rally can prolong to $200 in such a case. 

Sohrab Khawas

Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.

Recent Posts

Breaking: Pi Network Partners With Banxa and Onramper – Yet Pi Coin didn’t Surge!

Big announcement coming from the Pi Network. On the occasion of Pi2day, Pi Network has…

June 29, 2025

Will XRP Price Hit $10

The Ripple vs SEC is finally on the cusp of wrapping up, with a recent…

June 29, 2025

Senate Passed Trump’s “Big, Beautiful Bill” With 51-49 Vote

The U.S. Senate just gave the green light to President Trump’s widely discussed tax and…

June 29, 2025

Is XRP About to Lead the Next Altcoin Season?

It’s starting to feel like something big is coming for XRP. After months of sideways…

June 29, 2025

Bitcoin, ETH, & XRP Price Prediction for Next Week (30th June 2025 – 05th July 2025)

The broader crypto market is holding steady going into the final days of June, with…

June 29, 2025

Pi Network News: 337M Pi Token Unlock in July – Major Sell-Off Coming

Pi Network, once seen as a quiet underdog, is now facing one of its biggest…

June 29, 2025