Binance exchange has been frequently in the news after the collapse of FTX, which clearly had an impact on its token`s price. BNB usually follows general market trends with significant moves in its price, however, the previous week showed that a lot of negative publicity is holding investors resilient to make higher investments in this coin.
BNB started the previous week around level of $290, but regardless of the general optimism on the crypto market, the coin was testing $300 resistance, without strength to move further from this level. Highest weekly level reached was $326 but only on one occasion, still, the coin is ending the week by testing the $300 line. RSI is struggling to hold above the level of 50, indicating that the market is potentially eyeing the oversold side. Moving averages of 50 and 200 days made a so-called Golden cross, but the potential change in the trend might be a bit postponed for this coin.
Currently there is some negative news around Binance exchanger which are impacting the market sentiment for BNB. In this sense, it might be expected that the price will be further affected in terms of its slower moves. Short term resistance line at $320 might be tested, but there is no indication that the price might rise from this level. On the opposite side, short term support at $280 might be tested for one more time.
BNB started the previous week around level of $290, but regardless of the general optimism on the crypto market, the coin was testing $300 resistance, without strength to move further from this level. Highest weekly level reached was $326 but only on one occasion, still, the coin is ending the week by testing the $300 line. RSI is struggling to hold above the level of 50, indicating that the market is potentially eyeing the oversold side. Moving averages of 50 and 200 days made a so-called Golden cross, but the potential change in the trend might be a bit postponed for this coin.
Currently there is some negative news around Binance exchanger which are impacting the market sentiment for BNB. In this sense, it might be expected that the price will be further affected in terms of its slower moves. Short term resistance line at $320 might be tested, but there is no indication that the price might rise from this level. On the opposite side, short term support at $280 might be tested for one more time.
