BNB price has been facing challenges in its attempt to surpass the $240 mark against the US Dollar. As a result, it has undergone a correction and is now approaching a significant support zone at $220 and $215. Currently, the price is gradually declining towards the $220 support level, while still trading above $215 and the 100 simple moving average on the 4-hour chart. A bullish flag pattern is also forming, indicating potential upward momentum if the price manages to break above the $228 resistance level. In recent days, BNB experienced a recovery wave, thanks in part to Bitcoin’s rally. Bitcoin surged by over 20% to $35,000, which helped BNB avoid a major downside break. The price successfully surpassed the key $220 resistance zone and climbed above $225 and $230. However, it encountered resistance near the $238-$240 range, with a high of around $237.6. Consequently, a downside correction occurred, causing the price to drop below $235.Currently, BNB is trading above $215 and the 100 simple moving average on the 4-hour chart. Additionally, a bullish flag pattern is forming, with resistance near $225. If the price manages to increase, it could face resistance at $225 and $228. A clear breakthrough above $228 could lead to further gains, potentially testing the $238 resistance level. A close above $238 might pave the way for a larger increase towards the $250 resistance.However, if BNB fails to surpass the $228 resistance, it could initiate another decline. The initial support on the downside is around $220, followed by the 61.8% Fibonacci retracement level of the upward move from the swing low of $208.3 to the high of $237.6. The next major support level is near $215 or the 100 simple moving average on the 4-hour chart. A break below $215 could result in a drop towards the $207 support level. Further losses may lead to a larger decline towards the $202 level.In terms of technical indicators, the MACD for BNB/USD is losing momentum in the bullish zone on the 4-hour chart. However, the RSI (Relative Strength Index) is currently above the 50 level, indicating a positive sentiment.To summarize, BNB price has faced resistance near $240 and is now approaching a significant support zone at $220 and $215. The price is currently trading above $215 and the 100 simple moving average, with a bullish flag pattern forming. A clear breakthrough above $228 could lead to further gains, while a failure to surpass this resistance level may result in another decline.