• BNB has broken down from its long-term 18,500 satoshi support level. There is strong resistance at 25,000 satoshis.
  • The price has created a short-term double-bottom pattern.
  • The weekly chart indicates that the price will soon begin a long-term upward trend.
The Binance Coin (BNB) price has been decreasing at an accelerated rate since May 5. This decrease has caused the price to break down from the support line of its long-term range. While a decrease from such a long-term support level often indicates that the price will continue going down, BNB has been showing signs that the breakdown might not have been legitimate. This was also noted by
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Valdrin Tahiri

Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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