Altcoin of the largest crypto exchange by trading volume BNB It has been on the agenda for days with depreciation. We witnessed that BNB, which pushed the $350 limit in April, fell to $220 as a result of negative news. In this article, the leading altcoin We will review the technical outlook for BNB. After technical analysis indicators BinanceLet’s take a look at the latest developments in the stock market.
Binance Coin (BNB) Analysis
The native cryptocurrency of the leading crypto trading platform, BNB, has entered a downtrend after its local peak in April. Binance Coin, from $ 350 level to today, approximately 29.50%has lost value.
Although BNB has been trading between horizontal blocks for weeks, recent developments have caused a deep decline. USA Securities and Exchange Commission SEC’sAfter filing a lawsuit against Binance.US, BNB traded at $300 on June 5, dropping as much as $221 within a week.
Binance Coin reached the $247 limit again with the reaction from the $221 support. For a new rise to be possible, the bulls need to break past the old low. $256, which the bulls defended for about 2-3 days, is likely to act as resistance. If this level is exceeded, the next target can be $283.
SEC Agrees With Binance!
US government agencies have been making various investigative decisions regarding the Binance exchange for months. The pressure that started this year with the stock market’s dollar-indexed stablecoin BUSD still continues.
The Securities and Exchange Commission SEC filed a new lawsuit last week to freeze the assets of the Binance.US exchange. Court Judge Amy Berman Jakcson said in a statement that the two sides were very close to an agreement.
$BNB has gained 12% today from the $221 low after the statements that reduced risks. BNB currently finds buyers at $247.
