Binance Coin Price Analysis: BNB gets rejected at $408, bears prepare for a pullback

TL;DR Breakdown Binance Coin price analysis indicates bearishnessBNB/USD will correct downwards in the next 24-hoursResistance was found at the $408 mark Today’s Binance Coin price analysis indicates bearishness after the market rejected, after $408, and denied the chance to camp near the $410 support. However, since BNB/USD started to consolidate, we made the assumption that the bulls are exhausted, and we are looking forward to a retracement in the next 24-hours The overall market traded bearishly over the last 24 hours. Bitcoin shed 3 percent, while Ethereum went down by 5 percent. LUNA emerged as the best performing altcoin of the day after gaining approximately 25 percent overnight. Binance Coin price movement in the last 24 hours: Binance Coin declines to $399 BNB/USD traded in a range of $399 – $408.34, indicating substantial volatility over the last 24 hours. Trading volume has decreased by 8.61 percent and totals $2.21 billion, while the total market capitalization trades around $67.965 billion, ranking the coin in 4th place overall. BNB/USD 4-hour chart: BNB prepares for a retracement? On the 4-hour chart, we can see the Binance Coin price action trading sideways overnight, indicating an upcoming retracement. BNB/USD 4-hour chart. Source: TradingView Binance Coin price action has traded with a strong bullish momentum over the last month. From the previous major swing low of around $255, BNB/USD has gained almost 100...