Binance Coin (BNB) has shown significant strength in recent weeks against Tether as it has maintained its bullish sentiment. Despite the market retracement, Binance Coin (BNB) has shown great strength but has lost its key support at $300.(Data from Binance) Related Reading: Axie Infinity Unveils Season 0 With High Expectations – Will It Pull AXS Up? Binance Coin (BNB) Price Analysis On The Weekly Chart According to the chart, the price of BNB saw its weekly low at $220; the price of BNB quickly rebounded from that region to a weekly low of $330 as the price is unable to show much strength to trend higher after being rejected from $337 acting as weekly resistance. The weekly candle for BNB closed with a bearish sentiment, and the new week’s candle appears to be even more bearish. The price action has remained weak; if the price of BNB on the weekly chart maintains this structure, it could retest its weekly support of $250. For the price of BNB to trend higher, it must reclaim the bullish trendline that serves as support, and a close above $300 would be favorable to bulls. Weekly resistance for the price of BNB – $337. Weekly support for the price of BNB – $250. Price Analysis Of BNB On The Daily (1D) Chart The price of BNB has found itself holding above the trendline support, preventing the price from falling; however, bears were able to break the trendline support to a region of $283. BNB’s price has be...
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