Binance Coin (BNB) Price Analysis for September 9

Bulls are trying to seize the initiative at the beginning of the weekend.

BNB/USD

The price of Binance Coin (BNB) has increased by 0.24% since yesterday.

On the hourly time frame, the rate of Binance Coin (BNB) has bounced off the local resistance at $215.4. If the drop continues, traders are likely to see a test of the support at $214.3 by the end of tomorrow.

On the daily time frame, today’s slight rise has not affected the overall technical position as the rate remains far from the main levels. The falling volume confirms that neither side has seized the initiative.

In this case, sideways trading in the area of $212-$218 is the more likely scenario for the next couple of days.

From the midterm point of view, the situation is more bearish than bullish as the rate is on the way to the support level of $204.8. If buyers lose the interim mark of $210, one can expect a sharp move to the $200 zone and below.

BNB is trading at $214.8 at press time.

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