Should you buy BNB at the current $215 support level?

• BNB faces bear pressure at key support levels

• Tokens are down 68% from ATH

• BTC, a crypto market under bearish momentum, is trading for less than $ 20,000.

Binance (BNB / USD) continues to be curtailed as the sector’s bearish momentum continues. Tokens are currently trading at $ 215.35, down 3.4% the day before and 10.72% last week. CoinMarketCap.. By comparison, Bitcoin, the flagship token, fell 10.96% last week, while Ethereum fell 15.41%. Are you seeing a trend reversal with native Binance tokens, or is it likely to fall?

Binance’s continued global expansion has rarely boosted the adoption of native BNB tokens, which were originally intended for price discounts. BNB chain auto write token mechanism Binance consumes over 1.8 million BNB tokens in AprilHas not yet increased the value of cryptocurrencies.

Past price data from CoinMarketCap Indicates that BNB tokens are on the decline. Last month, tokens fell 28.7% from the $ 303 high. The three-month price outlook shows a 51% drop from $ 444. Tokens plunged 68% from a record high of about $ 675.

BNB finds support for $ 215

Source: Tradingview

According to the outlook for the daily chart above, the BNB token looks bearish. Tokens are currently trading at support levels, turning the $ 327 price level into resistance. The 20- and 50-day moving averages provide resistance to the uptrend and show potential areas of integration if the trend reverses. In addition, if the RSI is 36, the BNB may be set to a short-term uptrend reversal.

Overall, the current price level can make an ideal buy entry, but a bullish price signal is confirmed. Investors are advised to put up with the signals of price behavior before buying at the current level. Below $ 215, it can be even weaker and the tokens can be lower.

Overview

BNB tokens remain largely restrained in the bearish sentiment of the crypto sector. However, investors can benefit from short-term price fluctuations before sentiment changes. Traders need to wait for tokens to clear above the $ 215 level and then lengthen.