The price of #Binance Coin has nearly broken through the cluster of exponential moving averages (EMA) around $215.

There are two additional resistance levels for BNB beyond this point: $220 and $228.

A rally to $252 may get started if the price can go back above the $228 barrier.

The bullish case will be debunked if daily candlesticks fall below $206.5.

For over six weeks, the price of Binance Coin (BNB) has remained tightly contained. Yet, the narrowing range may soon come to an end, giving bulls a chance to seize control and try to overturn several obstacles.

The cost of Binance Coin has to suffer even more

Since August 22, the price of Binance Coin (BNB) has made three higher lows, leaving the sell-side liquidity below it. The 15-day, 25-day, and 30-day Exponential Moving Averages (EMA) all converge at $215, where BNB is trading now.

If purchasing pressure increases and BNB breaks through the EMA cluster, the Binance Coin price will be able to move higher, testing the $220 and $228 resistance levels. The 12th of June and the 10th of June were the sales peaks at these two barriers.

If bulls are able to push beyond $228, they will have free reign until they reach $252, the next major resistance mark. But, traders should keep an eye on the four-hour 200-day exponential moving average (EMA), as it is expected to act as resistance. When the price of Binance Coin reaches this resistance level, investors who have opened long positions may want to consider taking some profit.

Binance's Future Prospects Regaining the $228 mark is necessary for the coin price to resume its upward trend. But if buyers aren't prepared, the market won't rise. If that happens, $BNB might fall as investors sell out of fear.

If this action causes the Binance Coin price to drop to a daily candlestick close below $206.5, a lower low would have been formed, and the bullish thesis will be proven wrong. The formation of swing lows at the $203 level may provide a good opportunity for BNB to accumulate liquidity.