As the BNB prices fail to surpass the $400 mark, a bearish breakdown of the consolidation range leads to a falling wedge pattern.

Key technical points:
<ul>
 	<li style="font-weight: 400">The BNB market value drops 18% overnight.</li>
 	<li style="font-weight: 400">The market price struggles to find support at the descending trendline.</li>
 	<li style="font-weight: 400">The 24-hour trading volume of Terra is $4.98 Billion, indicating a 77% rise. </li>
</ul>
<h2>Past Performance of BNB</h2>
BNB prices fail to sustain above the $400 mark after a bearish breakdown of the prolonged consolidation in the 4-hour chart ignites a downfall. The downfall finds bearish support with a boom in selling pressure evident by the increasing trading volume. Moreover, the bearish patterns account for a 40% devaluation in the last week.

<img src="https://s3.tradingview.com/snapshots/q/Q0kyfQny.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/Q0kyfQny/">Tradingview</a>
<h2>BNB Technical Analysis</h2>
BNB price action showcases a lower price rejection and delays the bearish breakout of the descending support trendline. Moreover, the small bullish candle forming at the trendline marks the possibility of a reversal. 

The super trend indicator shows a bearish trend in motion, as the market prices remain under the ATR line. 

The Stochastic RSI shows a sharp fall in the K and D lines representing a bear cycle in action. However, the lines approach the oversold zone reflecting a high possibility of a crossover leading to a reversal. This adds points to the bullish reversal ideology from the descending trendline.

The DMI indicator shows a supreme bearish trend as the DI lines continue to diverge in the bearish alignment, with the ADX continuing to rise. Thus, the indicator reflects a high momentum downtrend.

In short, the BNB technical analysis reflects a weak possibility of a bullish reversal.
<h2>Upcoming Trend</h2>
Hoping the buyers resurface at the descending trendline, the BNB market price can find an upside move of 20% growth to hit the $290 mark. However, it will be difficult to surpass the resistance trendline as the overall market corrects and with the BTC prices under $30K.

Support levels: $250 and $200

Resistance levels: $290 and $325

BNB Technical Analysis: Bulls Resurface Within The Falling Wedge

As the BNB prices fail to surpass the $400 mark, a bearish breakdown of the consolidation range leads to a falling wedge pattern.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

BNB Technical Analysis: Bulls Resurface Within The Falling Wedge

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