Binance Coin (BNB) Price Analysis for December 17

Even though most of the coins faced a significant drop yesterday, buyers have not managed to seize the initiative.

BNB/USD

The rate of Binance Coin (BNB) has dropped by 12.45% over the last 24 hours.

Despite the fall, the rate of Binance Coin (BNB) might have found a local support level at $224.7. At the moment, the price is located near the resistance at $239.5.

If buyers can hold the gained initiative until the end of the day, there is a chance to see a test of $250 tomorrow.

A similar situation is on the bigger chart. Even though it is too early to think about a midterm reversal, a slight rise to the mirror level at $255.6 can happen. Thus, the buying volume has increased, which confirms bulls’ power.

On the chart against Bitcoin (BTC), Binance Coin (BNB) is trying to remain in the bullish zone after the false breakout of the 0.013882 mark. If the candle closes near 0.0145, it might be easy for bulls to keep the rise to the important zone of 0.015. Such a scenario is relevant until the end of the upcoming week.

BNB is trading at $238.6 at press time.