<strong><em>BNB prices action shows another bear cycle starting from the resistance trendline and warns of a downfall below the $200 mark. </em></strong>

<strong>Key technical points:</strong>
<ul>
 	<li>The BNB market price has decreased by 5.50% over the past 24 hours.</li>
 	<li>The price action shows a downtrend with an increase in trading volume.</li>
 	<li>The 24-hour trading volume of Binance is $1.164 Billion, indicating a rise of 37%.</li>
</ul>
<h2>Past Performance of BNB</h2>
<a href="https://www.tradingview.com/x/7iJAyx6T/">BNB price</a> action exhibits a falling trend in a bearish wedge which is responsible for a fall of 51%, a drop from $400 reaching the 200 mark. However, the actual downtrend began at the $450 mark and the deflation rate incremented to 56%.

<img src="https://s3.tradingview.com/snapshots/7/7iJAyx6T.png" alt="TradingView Chart" />

<strong>Source- </strong><a href="https://www.tradingview.com/x/7iJAyx6T/" target="_blank" rel="noopener">Tradingview</a>
<h2><span style="font-weight: normal">BNB Technical Analysis </span></h2>
Bulls attempted to regain the trend's control at the $200 level, but the demand at $250 and the resistance trendline reversed the 25% bullish rally. Furthermore, the more severe price rejection observed in the daily candles shows an increase in the selling outbursts. This may pressure the downtrend to challenge the buyers in the $200 area.

Regarding the technical indicators, the DMI suggests an unsuccessful attempt at a bullish crossover because the DI lines resume their bearish spread. Furthermore, the growing bearish influence on MACD and signal lines attempts to undermine the bullish crossover. The RSI indicator also adopts an unfavorable view when the slope slows down away from its halfway point until it reaches 14 days SMA. Thus, the indicators on the technical side warn of a fall in <a href="https://www.cryptoknowmics.com/news/binance-will-support-bnb-smart-chain-bep20-network-upgrade/">BNB</a> prices and suggest a drop to around $200.

Hence, the overall technical analysis warns of a downfall in the upcoming days.
<h2><span style="font-weight: normal">Upcoming Trend</span></h2>
Suppose BNB prices cross under the crucial support level of $200; the downtrend is likely to be able to reach the support trendline near $175.

<strong>Resistance Levels:</strong> $250 and $300

<strong>Support Levels:</strong> $200 and $175

BNB Technical Analysis: Selling Within Falling Wedge Warns $200 Fallout

BNB Technical Analysis shows another bear cycle starting from the resistance trendline and warns of a downfall below the $200 mark. 

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: Selling Within Falling Wedge Warns $200 Fallout

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