{"id":23038,"date":"2023-08-22T18:13:28","date_gmt":"2023-08-22T18:13:28","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bnb-price-breaks-key-support-as-headwinds-mount\/"},"modified":"2023-08-22T18:13:28","modified_gmt":"2023-08-22T18:13:28","slug":"bnb-price-breaks-key-support-as-headwinds-mount","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bnb-price-breaks-key-support-as-headwinds-mount\/","title":{"rendered":"BNB price breaks key support as headwinds mount"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1676314151879-7a7c063f-b4c2-439d-90d8-568e49dc1f7f-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1676314151879-7a7c063f-b4c2-439d-90d8-568e49dc1f7f-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1676314151879-7a7c063f-b4c2-439d-90d8-568e49dc1f7f-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1676314151879-7a7c063f-b4c2-439d-90d8-568e49dc1f7f-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Binance Coin (BNB) price is traded to lows of $204 after breaking below $210 and $208.<\/li>\n<li dir=\"ltr\">Declines for BNB come amid strong headwinds around Binance.\u00a0<\/li>\n<li dir=\"ltr\">BNB could drop to lows of $180 nad lower if bulls give up $200 zone.<\/li>\n<\/ul>\n<p dir=\"ltr\"><a href=\"https:\/\/coinjournal.net\/binance-coin\/\">BNB price<\/a> has broken below a key level as regulatory headwinds and latest issues around payments partners add to the broader downside pressure around the native Binance coin.<\/p>\n<p dir=\"ltr\">According to data from CoinGecko, BNB traded to lows of $204 on Tuesday, with price down nearly 2% in the past 24 hours as of writing. Binance\u2019s native coin has declined more than 14% in the past week. At current levels BNB is trading below a key technical support line and weakness could see bears push for the crucial $200 area.<\/p>\n<p dir=\"ltr\">The last time BNB decisively broke below the zone was in June 2022 after the Terra and Three Arrows Capital collapse. Prices wicked to lows of $183 then.<\/p>\n<h2 dir=\"ltr\">Why is BNB price down today?<\/h2>\n<p dir=\"ltr\"><a href=\"https:\/\/coinjournal.net\/exchanges\/binance\/\">Binance<\/a> has faced multiple regulatory hurdles over the past several months. Among them is a lawsuit by the US Securities and Exchange Commission (SEC), which sued the crypto exchange in June. BNB price fell sharply at the time, dropping from highs of $306 to lows of $230.<\/p>\n<p dir=\"ltr\">The cryptocurrency has struggled since, with the latest developments likely to have contributed to the downward pressure being reports that the support for euro deposits and withdrawals had been halted.\u00a0<\/p>\n<p dir=\"ltr\">Notably, Binances EUR payments partner Paysafe <a href=\"https:\/\/coinjournal.net\/news\/binances-eur-banking-partner-announces-plan-to-halts-support\/\" rel=\"noopener noreferrer\" target=\"_blank\">announced<\/a> in June that it would be halting support for the company.<\/p>\n<p dir=\"ltr\">As reported <a href=\"https:\/\/coinjournal.net\/news\/checkout-com-terminates-binance-support-over-aml-concerns-report\/\" rel=\"noopener noreferrer\" target=\"_blank\">here<\/a>, Binance has also recently suffered a setback after digital payments platform Checkout.com ended its relationship with the crypto exchange.<\/p>\n<h2 dir=\"ltr\">Binance Coin price outlook<\/h2>\n<p dir=\"ltr\">The confluence of Binance-related issues and the weakness across risk asset markets sees BNB price face potential dip to lowest level in more than a year. This scenario is strengthened by the technical outlook for BNB\/USD as seen on the weekly chart.<\/p>\n<p dir=\"ltr\">On the 4-hour chart below, the RSI and MACD indicators suggest bearish strength as is the exponential moving average and funding rate. Erroneous\u00a0<\/p>\n<div class=\"fr-img-space-wrap\"><span class=\"fr-img-caption fr-fic fr-dib fr-draggable\" style=\"width: 700px\"><span class=\"fr-img-wrap\"><\/p>\n<p dir=\"ltr\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/media.igms.io\/2023\/07\/22\/1692725671471-7e1b426c-9bdc-4808-94bb-bb0fdf12c821.png\" style=\"width: 700px\" class=\"fr-fic fr-dib\" width=\"700\" height=\"267\"\/><span class=\"fr-inner\"\/><\/p>\n<p dir=\"ltr\">BNB price on the 4-hour chart. Source:\u00a0<a href=\"https:\/\/www.tradingview.com\/x\/92st1ZGo\/\"><u>TradingView<\/u><\/a><\/p>\n<p><\/span><br \/>\n<\/span><\/p>\n<p class=\"fr-img-space-wrap2\">In BNB\u2019s case, the path of least resistance appears to be downward and key to this is the $200 level. Break this and bears could have easy targets towards the $180 area.\u00a0<\/p>\n<p class=\"fr-img-space-wrap2\">However, should price action push prices higher, reclaiming $210 will be critical to pulling bulls back to the $220-$250 region.<\/p>\n<\/div>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/binance-price-bnb-headwinds-mount-bulls-could-fall-off-cliff\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Binance Coin (BNB) price is traded to lows of $204 after breaking below $210 and $208. Declines for BNB come amid strong headwinds around Binance.\u00a0 BNB could drop to lows of $180 nad lower if bulls give up $200 zone. BNB price has [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":23039,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23038"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=23038"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23038\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/23039"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=23038"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=23038"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=23038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}