Binance Coin (BNB) Recoups Losses but Struggles with Resistance

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In Brief
  • BNB is facing resistance and support at $23.50 and $18.80.

  • BNB is likely completing a complex corrective pattern.

  • BNB/BTC looks bullish in the long-term.

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Binance Coin (BNB) has already recouped the majority of its losses from the Sept 2 decrease. However, BNB has reached an important resistance area which threatens to knock the price back down. BNB Deviation Above Range High On Sept 1, the BNB price broke out above the $23.50 resistance area to reach a high of $25.81. However, the price dropped sharply afterward, making the previous
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Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.

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