$BNB Binance Chain Native Token Faces A Possible Decline And Struggles Around $558
BNB price long-term prediction: bearish
Bearish momentum broke below the previous low of $558 but then pulled back to retest it.
On a positive note, the selling pressure is likely to stop if buyers keep the price above the resistance that served as the last support. To retest the moving average lines, BNB will rise.
However, BNB could fall further to the $440 low if it encounters rejection at the current resistance, which would increase selling pressure. In the meantime, BNB is correcting higher as it attempts to reverse its decline.
BNB indicator reading
The price bars are below the moving average lines. The altcoin has fallen as a result of a bearish crossover between the moving average lines. If BNB continues to be rejected at the current high, selling pressure will continue.
