BNB price analysis

BNB 

BNB



$229

 broke and closed above the downtrend line on Oct. 22, invalidating the bearish descending triangle pattern. The failure of a bearish setup is a bullish sign.BNB/USDT daily chart. Source: TradingView

The BNB/USDT pair has reached the horizontal resistance at $223. If this obstacle is overcome, the pair could rally to $243 and thereafter to $250. The bears are expected to guard this zone with vigor.

If bears want to make a comeback, they will have to quickly drag the price below the moving averages. That may open the doors for a retest of the vital support at $203. A slide below this level could start the next leg of the downtrend to $183

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