BNB turned down and plunged below the support line of the symmetrical triangle pattern on Aug. 15. This shows that the uncertainty between the bulls and the bears resolved to the downside.
If the price sustains below the triangle, the BNB/USDT pair could drop to the vital support at $220. This level is likely to attract aggressive buying by the bulls. If the price rebounds off this level and rises above the moving averages, it will indicate that the pair may continue to swing between $265 and $220 for a while longer.
Alternatively, if the price continues lower and breaks below the $220 support, it will indicate the resumption of the downtrend. The pair may then slump to the pattern target of $196.
