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Binance Coin (BNB) Price Analysis for December 17




Although most of the coins had a significant drop yesterday, the buyers have not been able to seize the initiative.

Binance Coin (BNB) Price Analysis for December 17

BNB/USD

The price of Binance Coin (BNB) has fallen by 12.45% in the last 24 hours.

BNB/USD Chart by TradingView

Despite the fall, the price of Binance Coin (BNB) may have found a local support level at $224.7. Currently, the price is near the resistance at $239.5.

If buyers can hold the initiative achieved until the end of the day, there is a chance to see a test of $250 tomorrow.

BNB/USD Chart by TradingView

A similar situation is on the larger chart. Although it is too early to think of a reversal in the interim, a small rise to the mirror level of $255.6 could happen. Thus, the buying volume has increased, which confirms the bull’s power.

BNB/BTC chart by TradingView

On the chart against Bitcoin (BTC), Binance Coin (BNB) is trying to remain in the bullish zone after the false breakout of the 0.013882 mark. If the candle closes near 0.0145, it could be easy for bulls to hold the rally to the important 0.015 zone. Such a scenario is applicable until the end of the coming week.

BNB is trading at $238.6 at press time.



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