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How is Binance BNB Looking Today?
Binance BNB is currently trading around the $250 mark and is trying to gain momentum on the lower timeframes. The price has been looking quite bearish since BNB lost the support around $263 last week and the lower levels are once again in play. We did see some bullishness for Binance BNB last month when it managed to touch the $315 mark. However, the trend seems to have shifted and now it is moving in a downtrend once again. Let’s take a quick look at the latest Binance BNB Price Prediction Today (20-Dec-2022) to see where the price could be headed next in the coming days.
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Analyzing the Charts
If we look at the latest 4-hour charts for Binance BNB, we can notice that the price did find some support around $230 and seems to be bouncing back nicely.
It is now headed toward the previous support at around $263 and will likely face strong resistance there. The $260 region has plenty of significance as it is the area that has held the price up for months. A rejection here in the short term could trigger another sell-off for BNB.
If we do see a strong rejection for BNB around the $263 mark, the next support level we will be eyeing for it is the $200 mark.
The price movement for BNB will also depend on the price movement of BTC. If Bitcoin continues to move sideways by the end of the month we can see some bullish price movement for BNB.
Conclusion: What is Next for Binance BNB?
Binance BNB is currently trading around the $250 mark and is struggling to gain momentum on the lower timeframes. The price does seem to be moving toward the upside on the lower timeframes, but a rejection is likely. If we do see a strong rejection for BNB around $263, we will be interested in placing a short trade on it.
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