Support Tested as Price Trends Downward
Binance Coin retraces towards the resistance zone between $229 and $234, but is now trending downwards towards a support level at $207. Resistance at $216 and potential breach of $207 support could extend the coin's downward trend towards the $200 range.
As anticipated last week, Binance Coin retraced its movement to the resistance zone between $229 and $234. Currently, it's heading back down towards its support level at around $207. There's now a higher likelihood of the price reaching the $200 mark. In the near future, we might encounter resistance around the $216 mark, possibly leading to a negative response. On the flip side, the support at $207 could trigger a positive reaction initially, but there's a chance it might be breached, extending the downward trend towards the $200 range.