According to Mags' technical analysis, Coin On Coin (BNB) is the native token of the Coin On Cryptocurrency Exchange and has entered a long-term downward trend, but may experience significant price fluctuations in the near future.BNB hit a historic high of $665 in May 2021, but has since steadily declined, currently trading at around $209
According to Mags' technical analysis, Coin On Coin (BNB) is the native token of the Coin On Cryptocurrency Exchange and has entered a long-term downward trend, but may experience significant price fluctuations in the near future.
BNB hit a historic high of $665 in May 2021, but has since steadily declined, currently trading at around $209. This region has become a key support level for BNB, with prices rebounding multiple times during significant selling. So far, there have been no strong signs of bullish reversal or bearish collapse at this critical turning point.
From a technical perspective, BNB has recently broken through the large-scale upward wedge shape that has been consolidating for over 385 days. Breakthroughs in long-term chart patterns typically lead to the continuation of current trends, which have been detrimental to BNB since mid-2021.
If BNB completely loses its support level of $209, technical analysts expect its decline to be even greater, falling to the $165- $150 range. However, another scenario is for BNB to briefly fall below $209, then quickly rebound and rebound to the middle of BNB's current trading range. In the second outcome, risk return is relatively favorable for bulls.
Regardless of the direction of price development, BNB seems to have some highly influential trend in the near future. Traders should closely monitor cryptocurrencies as potential short-term trading opportunities may be forming. Fundamental catalysts such as major news events may help trigger expected volatile price trends.
BNB (Coin An Coin) has experienced different price performance over different time periods. In the past 24 hours, BNB prices have risen by 1.5%, valued at $211.68, with a 24-hour trading volume of $341427880. The 24-hour trading range of this token is $207.81 to $211.62. In the past 7 days, the price of BNB has decreased by -2.2%.
However, in the past 14 days, it has slightly increased by 1.4%. When considering a longer period of 30 days, BNB once again faces a price drop of -2.2%. The current market value of the coin is $32533279408, ranking fourth in the cryptocurrency market.
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