BNB PRICE DROPS BELOW CRITICAL LEVEL – BEARISH TARGETS REVEALED FOR TRADERS!

The crypto market has been hit hard, and BNB is no exception. BNB's value has been in freefall, dropping steadily from the $325 resistance zone, and breaking through key support levels at $300 and $310. The situation worsened when the $285 support gave way, causing a sharp drop in the coin's price.

The latest news indicates that BNB has suffered another 5% loss, although it has fared better than Bitcoin and Ethereum. However, the bears are still firmly in control, and the price is currently consolidating below the $285 zone and the 100 simple moving average (4-hours).

Traders should watch out for the immediate barrier at $276, which is the first line of defense for the uptrend. The $282 level is the next significant barrier, and it is currently trading close to the 50% Fib retracement level. However, the primary resistance is now focused on the $285 zone.

The 4-hour chart of the BNB/USD pair reveals a negative trend line forming near $288, which is acting as a major resistance. A decisive rise above this trend line, followed by a break above $290, could take the price towards the resistance at $300. If the bulls continue to push, the price might even reach the $320 mark.

But the situation could turn even more bearish if BNB fails to break through the resistance level at $285. The area around the $272 level is the first line of support on the downside, followed by the $265 and $262 levels.

However, if the $262 support is breached, the price may plummet further towards the $250 support level. Traders should watch out for these bearish targets and take appropriate measures to mitigate their losses.