Binance Coin BNB/USDT Price Analysis April 7, 2023

BNBUSDT

The bearish sentiment is evident as BNB retreats from the 20-day EMA (314). Might be a short opportunity here.

The slightly declining 20-day EMA and RSI just below the midpoint point towards a slight advantage for the bears. A breakdown of the 306 support level may lead to a further decline in the BNB/USDT pair, first to $300, followed by a potential decline to the 200-day SMA (291).

To prevent further declines, the bulls must push the price above the immediate resistance level at $318. Doing so may allow the pair to rise towards the overhead resistance zone, which is situated between 338 and $346.

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