Strong reactive area!

During the last week, BNB, like many altcoins in the market, has had a completely range trend. The price of this currency is again at the support level of 264 to 270 dollars, and an almost appropriate reaction was observed yesterday. But note that the overall market trend is bearish, and there is also the potential for another price drop for BNB. If the selling pressure increases and the current support breaks, the support range of $233-240 for this currency can be considered a strong reaction zone. But on the other hand, a break of the current support could send the price into a new bearish wave, which would indicate a reversal zone in the $179-$191 range.

Therefore, increasing selling pressure in the market can even lead to the breaking of the previous floor in the weekly time frame. If the candle closes below the 264 support area this week, with a very high probability, the previous floor could be the next target for sellers. For the short term and in the 4-hour time frame, we can see a range trend on the chart. A dynamic resistance has been broken to the upside, and given the positive divergence, we expect a short-term rally to the 283-290 resistance range. A break of the $290 resistance can be considered for a short-term uptrend.

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