Binance Coin Price Falls, Trapped Between Moving Average Lines

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This summary text is fully AI-generated and may therefore contain errors or be incomplete.

Binance (BNB) coin price has experienced a decline after reaching a high of $274 on November 21. Currently, the price is trapped between moving average lines, with the 50-day simple moving average acting as a resistance at $240. If the altcoin falls below the 50-day SMA, it is expected to decline further and return to the previous price range of $203 to $223. The price bars are still between the moving average lines, indicating a sideways trend. Key resistance levels for BNB/USD are $300, $350, and $400, while key support levels are $200, $150, and $100. The next direction for BNB/USD will depend on whether the moving average lines are broken, with the 50-day SMA or the 21-day SMA playing a crucial role. In recent weeks, Binance coin has entered a sideways trend after multiple unsuccessful attempts to resume the previous rise. It is important for readers to conduct their own research before making any investment decisions.

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