BinanceCoin dips under key support level, can bulls rally again
BNB shorts retained a 53.9% advantage in the longs/shorts ratio.dip by 2.4%. This pushed the price of the fourth-largest cryptocurrency by market cap under a key support level.With BTC experiencing a correction and dipping under the $28k price area again, this might lead to more selling pressure for BNB.BNB’s price has been choppy over the past month. The price has oscillated between the $318 support level and the $350 resistance level.
A retest of the bearish order block on 1 May saw another dip to that support level. This prompted a bullish retreat with price dipping below the $318 support level to trade at $315, as of press time. Traders looking to short BNB can look out for a four-hour candle close beneath $318. The mid-term target should be the next support level at $303 while the $285 support level could serve as a long-term targetCoinglass
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