BNB price analysis 28 June 2019; Binance Coin facing bearish sentiment for the long term

BNB’s price has been all over the place recently, four major price spikes and five different falls in a little less than two days, and it looks like the bearish sentiment is here to stay for the long term.

BNB is going through an overselling period right now. If we take a look at the daily RSI we see that the coin did indeed see some support at the 50 levels, but it seems to not be enough as everybody is now focusing on diversifying into Bitcoin’s market dominance.

BNB price chart

BNB chart by Trading View

When it comes to future predictions, BNB is looking to be heading for a bearish long term. However, there are chances of it riding the Altcoin season wave in a few months, but before that, it will be facing major resistance levels at $40 and a strong support level at $30.

Naturally, if the $40 is broken BNB will survive Bitcoin’s market dominance, but should it come at least a little close to $30, it will have a lot of trouble resisting the BTC pressure.

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